The benchmark indices ended with minor gains after a volatile session on Thursday. After opening in the red, the barometer indices traded lower for most part of the session, but bounced in the final hour of the trade. Realty, power, FMCG, and banks advanced, while IT, auto, oil and gas and pharma scrips were under pressure. Trading was volatile due to the expiry of weekly index options on the NSE today. Negative Asian cues also triggered profit selling.

The barometer index, the S&P BSE Sensex, added 37.87 points or 0.06% to 60,298. The Nifty 50 index advanced 12.25 points or 0.07% to 17,956.50.

Kotak Mahindra Bank (up 3.45%), Larsen & Toubro (up 2.09%), Bharti Airtel (up 1.59%), SBI (up 0.83%) and ITC (up 0.7%) supported the indices.

In the broader market, the S&P BSE Mid-Cap index rose 0.42% while the S&P BSE Small-Cap index gained 0.34%.

The market breadth was positive. On the BSE, 1,905 shares rose and 1,489 shares fell. A total of 146 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 1.85% to 17.35.

Numbers to Watch:

The yield on India's 10-year benchmark federal paper rose to 7.242 compared with 7.182 at close in the previous trading session.

In the foreign exchange market, the rupee fell against the dollar. The partially convertible rupee was hovering at 79.64, compared with its close of 79.45 during the previous trading session.

MCX Gold futures for 5 October 2022 settlement gained 0.46% to Rs 51,780.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, added 0.13% to 106.72.

In the commodities market, Brent crude for October 2022 settlement rose $1.40 or 1.49% at $95.05 a barrel. The contract added $1.31 or 1.42% to settle at $93.65 a barrel during the previous trading session.

Global Markets:

European shares advanced while most Asian stocks declined on Thursday, struggling to build on gains as investors are cautious over the inflationary outlook.

US stocks closed lower on Wednesday after minutes from the Federal Reserve's meeting in July suggested that central bankers plan to continue rate hikes in order to bring down inflation.

With inflation remaining well above the Committee's objective, participants judged that moving to a restrictive stance of policy was required to meet the Committee's legislative mandate to promote maximum employment and price stability, the minutes said.

Stocks in Spotlight:

Indian Railway Catering and Tourism Corporation (IRCTC) jumped 6.16%. The company has floated a tender to monetise its digital assets. The company pegs revenue potential at Rs 1,000 crore by monetising digital data. IRCTC plans to leverage the data assets to increase revenue as well as improve customer experience by monetizing the data of railway passengers.

Indo Amines hit an upper circuit of 20%. The company has received an Environment Clearance for Expansion of 'Synthetic Organic Chemical' for its Manufacturing Plants situated at MIDC, Badlapur, Tal. Ambernath, Dist. Thane and MIDC Avdhan Taluka, Dist. Dhule, Maharashtra.

Dynacons Systems & Solutions hit an upper circuit of 5%. The company said that it has bagged an order from Life Insurance Corporation of India for workplace solutions. The overall value of the order for all the zones to Dynacons stood at Rs 105 crore.

Oil and Natural Gas Corporation (ONGC) shed 0.66%. ONGC has signed a Heads of Agreement (HoA) with global petroleum giant ExxonMobil for Deepwater exploration in East and West coasts of India. The collaboration areas focus on the Krishna Godavari and Cauvery Basins in the eastern offshore and the Kutch-Mumbai region in the western offshore.

GAIL (India) rose 0.56%. The board of directors of the company approved fundraising of $3.125 billion from external commercial borrowing and up to Rs 25,000 crore via NCD or non-convertible debentures.

Natco Pharma gained 0.17%. The company announced that the U.S. Food and Drug Administration has granted tentative approval to its Abbreviated New Drug Application (ANDA) for Trabectedin for Injection (generic for Yondelis) for the 1mg/vial presentation.

Craftsman Automation added 2.84%. The company has commenced the commercial operations of its new/additional plant at Pune, Maharashtra.

Infibeam Avenues jumped 4.91%. The meeting of the board of directors of the company is scheduled on 25 August 2022 to consider and approve the proposal for raising of funds through any permissible mode and/or combination thereof and other business items, if any.

Power Mech Projects (PMPL) gained 2.03%. The company announced that it has bagged a record order for 5 Flue Gas Desulphurization (FGD) projects with an aggregating value of Rs 6,163.20 crore from Adani Group.

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