Key benchmark indices hovered near day's low in mid-morning trade. At 11:28 IST, the barometer index, the S&P BSE Sensex, was down 212.71 points or 0.63% at 33472.83. The Nifty 50 index was down 66.30 points or 0.64% at 10,293.85. Index heavyweights Reliance Industries (RIL), HDFC and ITC dropped. Cement stocks fell.
Trading for the day began on a dull note as the key benchmark indices edged lower in early trade on negative Asian stocks. Stocks extended fall in morning trade.
The S&P BSE Mid-Cap index was down 0.09%. The S&P BSE Small-Cap index was up 0.23%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 1,273 shares rose and 1,073 shares fell. A total of 141 shares were unchanged. Breadth was strong in early trade.
ONGC (down 1.76%), Reliance Industries (down 1.24%) and NTPC (down 1.21%) edged lower from the Sensex pack.
Tata Motors lost 2.03% to Rs 345.90 after witnessing a series of bulk deals yesterday, 15 March 2018. Tata Motors witnessed promoter holding rejig via open market transactions on 15 March 2018 on the BSE at an average price of Rs 354.15 per share. Sir Dorabji Tata Trust sold 8.08 lakh shares. Sir Ratan Tata Trust offloaded 8.59 lakh shares. Tata Sons bought 16.68 lakh shares. Sir Dorabji Tata Trust held 0.03%, Sir Ratan Tata Trust 0.03% and Tata Sons controlled 33.24% stake end December 2017.
Cement stocks fell. UltraTech Cement (down 1.25%), Ambuja Cements (down 0.35%) and ACC (down 0.28%) fell. Shree Cement (up 0.87%) gained.
Grasim Industries was off 0.74%. Grasim has exposure to the cement sector through its holding in UltraTech Cement.
Jaiprakash Associates surged 9.14% to Rs 20.90 after ace investor Rakesh Jhunjhunwala's Rare Enterprises bought 3 crore shares of the company at Rs 18.37 per share in a bulk deal on the NSE yesterday, 15 March 2018.
Meanwhile, India's trade deficit for February 2018 was estimated at $11,979.21 million, 25.8% higher than the $9,521.73-million deficit reported during February 2017, government data released after market hours yesterday, 15 March 2018 showed. Exports during February 2018 stood at $25,834.36 million compared to $24,726.71 million during February 2017. Imports during February 2018 were pegged at $37,813.57 million, compared to $34,248.44 million in February 2017.
On the political front, Andhra Pradesh's Telugu Desam Party (TDP) reportedly pulled out of its alliance with the BJP-led NDA at the Centre. The N Chandrababu Naidu-led TDP, as well as other local parties, expressed their discontent over Narendra Modi led Union govt not giving special status to Andhra Pradesh.
Overseas, Asian stocks fell as weak volumes in the US session overnight gave little impetus for traders ahead of next week's Federal Reserve meeting. US stocks ended mixed yesterday, 15 March 2018 as industrial and tech gains were offset by losses in the consumer and energy sector.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
RECOMMENDED FOR YOU