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Barometers traded near the day's high with decent gains in mid afternoon trade. The Nifty index was trading near the 18,250 level, reversing from its day's low of 18,099.30. Broader market outperformed the front line indices. At 14:21 IST, the barometer index, the S&P BSE Sensex, gained 288.44 points or 0.47% at 61,255.70. The Nifty 50 index added 116.7 points or 0.64% at 18,242.35. In the broader market, the S&P BSE Mid-Cap index added 1.38% while the S&P BSE Small-Cap index rose 1.88%. The market breadth was strong. On the BSE, 2,158 shares rose and 1,079 shares fell. A total of 146 shares were unchanged. Broad Market Gainers: Macrotech Developers (up 7.44%), Sona BLW Precision Forgings (up 5.84%), Ramco Cements (up 5.77%), IDFC First Bank (up 5.58%), Tata Power (up 5.17%) and Jindal Steel & Power (up 4.77%) were top gainers in Mid Cap space. KEI Industries (up 16.88%), Jindal Stainless (up 15.33%), TCI Express (up 13.99%), Amber Enterprises (up 6%) and TV18 Broadcast (up 5.39%) were top gainers in Small Cap space. Stocks in Spotlight: Kotak Mahindra Bank rose 3.37%. The private sector bank reported a 7% fall in standalone net profit to Rs 2,032 crore on a 2% rise in total income to Rs 8408.87 crore in Q2 FY22 over Q2 FY21. The bank's operating profit before provisions and contingencies jumped fell 4.35% to Rs 3,120 crore in Q2 FY22 from Rs 3,262.12 crore posted in Q2 FY21. Profit before tax declined 7.95% to Rs 2,696 crore in Q1 FY22 from Rs 2,929 crore in Q2 FY21. Net Interest Income (NII) rose 2% quarter on quarter and 3% year on year to Rs 4,021 crore in Q2 FY22. Net Interest Margin (NIM) for Q2FY22 was at 4.45% as compared to 4.6% in Q1 FY22. Mahindra Lifespace Developers rose 6.48% to Rs 281.90 after the company reported consolidated net profit of Rs 6.52 crore in Q2 FY22 as against net loss of Rs 13.33 crore in Q2 FY21. Consolidated net sales surged 92.46% to Rs 59.24 crore in Q2 FY22 over Q2 FY21. Pre-tax profit stood at Rs 23.93 crore in Q2 FY22 compared with pre-tax loss of Rs 11.71 crore in Q2 FY21. Numbers to Track: MCX Gold futures for 3 December 2021 settlement fell 0.09% to Rs 48,155. The yield on India's 10-year benchmark federal paper rose to 6.362% as compared with its previous closing of 6.35%. In the commodities market, Brent crude for December 2021 settlement fell 18 cents or 0.21% to $85.81 a barrel. In the foreign exchange market, the partially convertible rupee rose to 75.0625 from its previous closing of 75.085. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.07% to 93.873. Powered by Capital Market - Live News
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