Key benchmark indices came off day's low and were trading with minor losses in morning trade. At 10:25 IST, the barometer index, the S&P BSE Sensex, was down 42.09 points or 0.11% at 39,080.87. The Nifty 50 index was down 6.45 points or 0.06% at 11,693.20.
The market breadth, indicating the overall health of the market, was negative. On the BSE, 838 shares rose and 896 shares fell. A total of 93 shares were unchanged.
Realty stocks were trading higher. Oberoi Realty (up 2.42%), Godrej Properties (up 1.84%), Indiabulls Real Estate (up 1.62%), Prestige Estates Projects (up 0.45%), DLF (up 0.23%) and Omaxe (up 0.05%) edged higher. Mahindra Lifespace Developers (down 1.9%), Sobha (down 0.98%), Anant Raj (down 0.69%) and Sunteck Realty (down 0.35%) edged lower.
Gujarat Borosil was up 2.43% to Rs 84.40 after the company announced that it has set up new additional furnace at its existing plant in Bharuch District of Gujarat. The company announced that the new additional furnace has a capacity of 210 tonnes per day (TPD) and is for production of solar glass, with the trial production being started yesterday.
Welspun Corp declined 2.18% to Rs 137 after board approved of upto 2.88 crore equity shares at Rs 135 each, which is discount to the current price. The record date for buyback is 5 July 2019.
Shares of most public sector oil marketing companies (PSU OMCs) gained as Brent crude oil price declined. Hindustan Petroleum Corporation (up 1.92%), Indian Oil Corporation (up 0.79%) and Bharat Petroleum Corporation (up 0.47%) edged higher.
Lower crude oil prices could reduce under-recoveries of public sector oil marketing companies (PSU OMCs) on domestic sale of LPG and kerosene at controlled prices. The government has already freed pricing of petrol and diesel.
In the commodities market, Brent crude for August 2019 settlement was down 47 cents at $64.39 a barrel. The contract fell 34 cents or, 0.52% to settle at $64.86 a barrel in the previous trading session.
Overseas, Asian stocks were trading lower as investors are waiting to see if anything will come of US-China trade talks later this week.
Meanwhile, US President Donald Trump and Chinese President Xi Jinping Xi are set to meet later this week at a Group of 20 summit in Osaka, Japan, with investors looking for signs the leaders can work out a truce in a trade war that has raised concerns about global economic growth and corporate earnings.
In US, most major stock benchmarks finished lower on Monday, though the Dow managed a slight gain, on selling in the energy sector after President Donald Trump announced hard-hitting Iranian sanctions.
On Monday, U.S.-Iranian tensions escalated, as Trump signed an executive order targeting financial sanctions against Iran's leaders, including its Supreme Leader Ayatollah Ali Khamenei.
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