Key benchmark indices sharply pared gains in afternoon trade. At 13:25 IST, the barometer index, the S&P BSE Sensex, was up 28.03 points or 0.07% at 39,082.71. The Nifty 50 index was up 18.25 points or 0.16% at 11,744.40.
Trading was volatile as traders roll over positions in the F&O segment from the near month April 2019 series to May 2019 series. The April 2019 F&O contracts expire today, 25 April 2019.
Key indices nudged higher in early trade on buying demand in index pivotals. Stocks hovered in positive zone after an initial upmove. The market extended gains in mid-morning trade. Indices sharply pared gains in afternoon trade.
The S&P BSE Mid-Cap index was down 0.14%. The S&P BSE Small-Cap index was up 0.27%.
The market breadth, indicating the overall health of the market, was almost even. On the BSE, 1152 shares rose and 1108 shares fell. A total of 154 shares were unchanged.
Yes Bank (up 3.07%), Reliance Industries (up 0.99%), Bharti Airtel (up 0.97%), NTPC (up 0.82%), ITC (up 0.75%), Larsen & Toubro (up 0.62%), IndusInd Bank (up 0.57%), HDFC Bank (up 0.52%) and HDFC (up 0.35%), were the major Sensex gainers.
Vedanta (down 1.74%), Tata Steel (down 1.28%), Bajaj Auto (down 0.96%), Sun Pharmaceutical Industries (down 0.78%), Infosys (down 0.73%), Tata Motors (down 0.72%), ONGC (down 0.71%) and ICICI Bank (down 0.49%), were the major Sensex losers.
Maruti Suzuki India fell 0.77% ahead of its January-March 2019 quarterly earnings today, 25 April 2019.
State Bank of India (SBI) fell 0.51%. SBI announced that the executive committee of the central board in its meeting held on 24th April 2019 has approved long term fund raising in single/multiple tranches upto $2.5 billion, through a public offer and/or private placement of senior unsecured notes in US Dollar or any other convertible currency during FY 2019-2020. The announcement was made after market hours yesterday, 24 April 2019.
Overseas, shares in Europe and Asia traded lower Thursday, after data showing a surprise deterioration in German business morale stoked fears of slowing global growth.
The Bank of Japan kept policy unchanged at a review on Thursday but pledged to keep interest rates very low at least until early 2020. The Bank of Japan also said it would explore lending exchange traded funds to the market. Japan's central bank also lowered growth and price projections for 2020.
US stocks closed lower Wednesday, a day after the S&P 500 and Nasdaq carved out their first records in months, following earnings from high-profile companies, including Dow components Boeing Co. and Caterpillar Inc., that offered a mixed picture of American corporations.
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