Key barometers were trading in a range at lower levels in afternoon trade. At 13:18 IST, the barometer index, the S&P BSE Sensex, was down 80.18 points or 0.23% at 35,136.93. The Nifty 50 index was down 49.75 points or 0.47% at 10,621.65.
Domestic stocks edged lower in early trade tracking mostly lower Asian stocks. A divergent trend was witnessed in morning trade as the barometer index, the S&P BSE Sensex, was trading with small gains while the Nifty 50 index was trading with small losses. Volatility ruled the roost in mid-morning trade as fresh selling pulled the key benchmark indices lower, derailing a brief intraday recovery. Indices turned range bound in afternoon trade.
Trading could be volatile for the remaining part of the day as traders roll over positions in the F&O segment from the near month June 2018 series to July 2018 series. The June 2018 F&O contracts expire today, 28 June 2018.
The S&P BSE Mid-Cap index was down 0.91%. The S&P BSE Small-Cap index was down 1.08%. Both these indices underperformed the Sensex.
The market breadth, indicating the overall health of the market, was weak. On the BSE, 706 shares rose and 1708 shares fell. A total of 129 shares were unchanged.
Coal India (down 1.73%), Power Grid Corporation of India (down 1.7%), HDFC (down 1.29%), ICICI Bank (down 1.47%) and State Bank of India (down 1.3%), were the major Sensex losers.
Mahindra & Mahindra (up 1.77%), Infosys (up 1.64%), Tata Steel (up 0.69%), ONGC (up 0.67%) and Wipro (up 0.53%), were the major Sensex gainers.
Overseas, shares in Europe were mostly higher. Asian markets are trading lower in view of conflicting messages from US President Donald Trump and his aides over whether he would adopt a confrontational approach to limit Chinese investment in America. US stocks fell yesterday, 27 June 2018 as a drop in technology stocks and financials more than offset an advance in the energy sector.
Trump has softened the threat of new curbs on Chinese investment in US firms. Separately, top US economic advisor Larry Kudlow said the Trump administration has no intention of backing down from the current China situation.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)