Stocks continued to gyrate in a small range with negative bias in mid-afternoon trade. At 14:25 IST, the barometer index, the S&P BSE Sensex, was down 29.15 points or 0.09% at 33,567.65. The Nifty 50 index was down 9.45 points or 0.09% at 10,315.70. Metal and mining stocks saw mixed trend. Capital goods stocks fell. Shares of index heavyweight and software major Infosys dropped.
Key benchmark indices drifted lower in early trade amid initial volatility. Stocks hovered in negative zone in morning trade. Indices continued to trade with small losses in intraday so far.
The S&P BSE Mid-Cap index was up 0.3%. The S&P BSE Small-Cap index was up 0.36%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 1,457 shares rose and 1,116 shares fell. A total of 121 shares were unchanged.
Index heavyweight and software major Infosys lost 1.44% to Rs 1,128.50.
Metal and mining stocks saw mixed trend. Vedanta (down 2.41%), JSW Steel (down 0.76%), Steel Authority of India (Sail) (down 0.2%), National Aluminium Company (down 1.81%) and Hindalco Industries (down 0.33%) edged lower.
Hindustan Copper (up 6.47%), Tata Steel (up 0.15%), Hindustan Zinc (up 0.48%), Jindal Steel & Power (up 0.68%) and NMDC (up 0.64%) rose.
Copper edged lower in the global commodities market. High Grade Copper for May 2018 delivery was currently off 1.33% at $3.0335 per pound on the COMEX.
Capital goods stocks fell. Bharat Heavy Electricals (Bhel) (down 0.11%), Bharat Electronics (down 0.93%), L&T (down 0.65%), Siemens (down 0.1%) and Thermax (down 1.78%) declined. ABB India (up 1%), BEML (up 0.65%) and Punj Lloyd (up 0.03%) rose.
Overseas, European stocks were trading lower, while most Asian stocks declined as traders digested the latest developments in the US-China trade spat and eyed all-important monthly US jobs data later in the day for clues on US monetary policy. Mainland China markets are shut for a holiday.
Trading in US index futures indicated that the Dow could slide 207 points at the opening bell today, 6 April 2018. In an announcement that came after US stock trading closed yesterday, 5 April 2018 President Donald Trump instructed the US trade representative to consider slapping an extra $100 billion in tariffs on Chinese goods. The latest move is a continuation of a growing trade dispute between the two countries. Trump previously announced $50 billion in proposed tariffs on goods imported from China, which responded by announcing about $50 billion in proposed tariffs on US goods.
US stocks closed higher yesterday, 5 April 2018 with major indexes posting their first three-day rally in several weeks as investors dialed back fears that a trade spat between the US and China will turn into a full-blown trade war.
Meanwhile, the US trade deficit rose 1.6% in February and remained near a 10-year high. The US trade deficit rose to $57.6 billion in February from $56.7 billion in the prior month, data released yesterday, 5 April 2018 showed.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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