Key benchmark indices hovered in negative terrain in mid-afternoon trade as lacklustre trading sentiment in global markets weighed on domestic equities. At 14:20 IST, the barometer index, the S&P BSE Sensex, was down 67.16 points or 0.23% at 29,639.45. The Nifty 50 index declined 7.30 points or 0.08% at 9,191. Power stocks declined while IT stocks were mixed.
The BSE Mid-Cap index fell 0.01%. The decline in this index was smaller than the Sensex's drop in percentage terms. The BSE Small-Cap index advanced 0.5%, outperforming the Sensex.
The breadth, indicating the health of the market was strong. On BSE, 1,723 shares rose and 1,088 shares fell. A total of 124 shares were unchanged.
Tata Motors rose 1.91% after the company said group global wholesales including Jaguar Land Rover rose 9% at 1.29 lakh units in March 2017 over March 2016. Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range fell 6% at 42,596 units in March 2017 over March 2016.
Global wholesales of all passenger vehicles rose 19% at 87,355 units in March 2017 over March 2016. Global wholesales for Jaguar Land Rover were 71,609 vehicles. (JLR number for March 17 includes CJLR volumes of 7,158 units). Jaguar wholesales for the month were 20,492 vehicles while Land Rover wholesales for the month were 51,117 vehicles. The announcement was made during market hours today, 10 April 2017.
Shares of power generation and power distribution companies edged lower in weak market. Torrent Power (down 2.25%), GVK Power & Infrastructure (down 1.14%), NHPC (down 0.47%), Tata Power Company (down 0.23%), NTPC (down 1.37%), Power Grid Corporation of India (down 0.13%), Reliance Infrastructure (down 0.14%) and Reliance Power (down 0.1%) declined. Adani Power rose 1.03%.
Shares of state run coal mining major Coal India rose 1.22% to Rs 287.40. The stock had hit high of Rs 288.70 and low of Rs 285 in intraday trade.
IT stocks were mixed. Tech Mahindra (up 0.16%) and TCS (up 0.3%) gained. Infosys (down 1.17%), Wipro (down 1.16%) and HCL Technologies (down 1.1%) declined.
Overseas, most European and Asian equities dropped amid caution as increased geopolitical risks prompted investors to favour safe-haven bets such as government debt.
Top aides to US President Donald Trump differed on Sunday, 9 April 2017. on where US policy on Syria was headed after last week's attack on a Syrian air base, while US Secretary of State Rex Tillerson warned the strikes were a warning to other nations, including North Korea.
The Bank of France trimmed its first-quarter economic growth forecast, based on monthly business activity indicators in March. French gross domestic product will rise 0.3% on quarter in the first quarter of the year instead of 0.4% forecast in February, the central bank said. The Bank of France said the revision isn't significant enough to compromise full-year growth forecasts.
On economic data front in Asia, Japan's current account surplus stood at 2.81 trillion yen ($25.26 billion) in February, finance ministry data showed, the biggest surplus since March 2016. The result is the 32nd straight month of current account surpluses. This February's current account surplus was the largest on record for February.
US stocks closed with small losses on Friday, 7 April 2017, after increased geopolitical concerns amid US air strikes against Syria and weaker than expected nonfarm payrolls data weighed on sentiment.
The Bureau of Labor Statistics reported Friday, 7 April 2017, nonfarm payrolls grew by just 98,000 in March, well below expectations, but the unemployment rate fell to a 10-year low of 4.5%.
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