Key equity indices were trading with small losses in morning trade. At 10:30 IST, the barometer index, the S&P BSE Sensex, was down 27.01 points or 0.07% at 36,417.63. The Nifty 50 index was down 2.05 points or 0.02% at 10,920.70.
The market breadth, indicating the overall health of the market, was positive. On BSE, 966 shares rose and 839 shares fell. A total of 98 shares were unchanged.
Most FMCG shares advanced. Hindustan Unilever (up 1.32%), GlaxoSmithKline Consumer Healthcare (up 0.95%), Colgate Palmolive (India) (up 0.72%), Britannia Industries (up 0.60%), Nestle India (up 0.52%), Dabur India (up 0.42%) and Marico (up 0.08%), edged higher. Tata Global Beverages (down 0.05%), Procter & Gamble Hygiene & Health Care (down 0.36%), Godrej Consumer Products (down 0.52%), Bajaj Corp (down 0.63%) and Jyothy Laboratories (down 1.32%), edged lower.
Most metal shares rose. National Aluminium Company (up 1.98%), JSW Steel (up 1.26%), Tata Steel (up 1.26%), Steel Authority of India (up 1.04%), Vedanta (up 0.81%), Hindalco Industries (up 0.76%), NMDC (up 0.28%) and Jindal Steel & Power (up 0.25%), edged higher. Hindustan Zinc (down 0.02%) and Hindustan Copper (down 0.1%), edged lower.
Overseas, Asian shares were mixed on Wednesday on the back of concerns over the state of ongoing US-China trade negotiations, amid reports that the White House had canceled a trade planning meeting with Beijing this week.
The Bank of Japan (BoJ) cut its inflation forecasts and stuck to its ultra-loose monetary policy on Wednesday. The central bank maintained its view that Japan's economy, the world's third largest, will continue to expand at a modest pace. The BoJ cut its forecast for core consumer inflation to 0.9% in the fiscal year beginning in April from 1.4%.
US stocks closed lower Tuesday, snapping a four-day winning streak, as trade woes and fresh concerns over the state of the global economy greeted investors returning from the long holiday weekend.
Shares dropped following a media report which said the US had canceled a trade meeting with Chinese officials due to a lack of progress in areas including "forced" technological transfers and economic reforms. However, the market trimmed its losses late in the session after White House adviser Larry Kudlow reportedly denied that the US rejected China's overtures.
Investors also digested a fresh round of corporate earnings and paid close attention to management commentary on the global economic outlook. Meanwhile, a partial US government shutdown stretched into its 32nd day on Tuesday.
On US data front, existing-home sales fell to a seasonally adjusted annual rate of 4.99 million in December, their lowest in three years, according to the National Association of Realtors.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)