A bout of volatility was witnessed in mid-afternoon trade as the market bounced back and hit fresh intraday high. At 14:19 IST, the barometer index, the S&P BSE Sensex, was up 112.70 points or 0.31% at 36,339.84. The Nifty 50 index was up 15.45 points or 0.14% at 10,945.90.
The market breadth, indicating the overall health of the market, was weak. On BSE, 713 shares rose and 1886 shares fell. A total of 152 shares were unchanged.
Car major Maruti Suzuki India was down 0.41%. The company said its total sales fell 0.5% to 162,290 units in September 2018 over September 2017. Total domestic sales rose 1.4% to 153,550 units while total exports fell 25.1% to 8,740 units during the period under review. The figures were disclosed during trading hours today, 1 October 2018.
Bajaj Auto was up 1.03%. The company said its total motorcycle sales rose 17% to 430,939 units in September 2018 over September 2017. Total commercial vehicles sales rose 20% to 71,070 units in September 2018 over September 2017. The figures were disclosed during trading hours today, 1 October 2018.
Ashok Leyland was down 1.13%. The company said its total sales rose 26% at 19,373 units in September 2018 over September 2017. The figures were disclosed during trading hours today, 1 October 2018.
Mahindra & Mahindra (M&M) was down 1.71%. M&M announced its auto sales performance for September 2018 which stood at 55,022 vehicles, compared to 53,752 vehicles during September 2017, a growth of 2%.
M&M's Farm Equipment Sector (FES) announced its tractor sales numbers for September 2018. Domestic sales in September 2018 were at 35,953 units, as against 44,220 units during September 2017. Total tractor sales (domestic + exports) during September 2018 were at 37,581 units, as against 45,788 units for the same period last year. Exports for the month stood at 1,628 units. During the first half of the financial year, the company's total tractor sales were at 1,78,829 units. The announcements were made during trading hours today, 1 October 2018.
Realty shares declined. Peninsula Land (down 6.67%), Indiabulls Real Estate (down 6.58%), D B Realty (down 6.07%), Unitech (down 4.85%), Housing Development and Infrastructure (HDIL) (down 4.81%), Sunteck Realty (down 4.54%), DLF (down 4.12%), Phoenix Mills (down 3.36%), Prestige Estates Projects (down 2.81%), Anant Raj (down 2.41%), Mahindra Lifespace Developers (down 2.15%), Sobha (down 2%), Parsvnath Developers (down 1.81%), Godrej Properties (down 1.09%) and Omaxe (down 0.39%), edged lower. Oberoi Realty was up 0.37%.
On the macro front, India's manufacturing economy recorded an improvement in growth during September amid firmer gains in new orders, output and employment. The Nikkei India Manufacturing Purchasing Managers' Index (PMI) strengthened slightly in September to reach a level of 52.2 (up from 51.7 in August). Solid growth of the manufacturing sector during the latest survey period extended the current run of expansion to 14 months.
Overseas, European shares were positive as investors digested news of a trade agreement between the US, Canada and Mexico.
President Donald Trump has reached a deal with Canada and Mexico to update the existing North American Free Trade Agreement (NAFTA), according to a senior US administration official. The new deal has been deemed the USMCA the United States-Mexico-Canada Agreement.
Back in Europe, UK Prime Minister Theresa May asked her party members to back her Brexit plan amid divisions over what the U.K.'s future relationship with the European Union (EU) should look like. During the party's annual conference, May's plans were criticized by two former ministers, including the former foreign secretary Boris Johnson.
Most Asian stocks were mixed. The Chinese and Hong Kong markets are closed today.
Japan's Nikkei 225 advanced on the back of the release of a survey conducted by the Bank of Japan which showed business confidence among the country's big manufacturers falling for the third consecutive quarter.
On Sunday, the release of data showed growth in China's manufacturing sector slowing down in September, with both external and domestic demand weakening. The Caixin/Markit Manufacturing Purchasing Managers' Index which focuses on small and medium-sized firms in China fell to 50.0 in September from 50.6 in August.
The data comes as the US-China trade war continues to escalate, with new tariffs imposed between the two countries on 24 September 2018 and Washington threatening to slap tariffs on virtually all Chinese imports into the United States.
In US, stocks closed mostly unchanged for the session on Friday after economic data painted a mixed picture of the economy.
On the economic front, consumer spending rose 0.3% in August, the slowest pace since February. Personal income also rose by 0.3%. The 12-month increase in the PCE index, the Federal Reserve's preferred inflation gauge, fell to 2.2% from 2.3%.
The Chicago Purchasing Manager's Index fell to a five-month low 60.4 in September. A reading of consumer sentiment came in at 100.1 in September.
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