Key benchmarks indices were trading near flat line in early afternoon trade. At 12:22 IST, the barometer index, the S&P BSE Sensex, was up 13.92 points or 0.04% at 35,864.08. The Nifty 50 index was down 4.45 points or 0.04% at 10,767.35. Investors remained on the sidelines for further cues ahead of the start of another corporate earnings season.
After opening lower, key indices bounced back and hit fresh intraday high in morning trade. Indices once again slipped into negative terrain in mid-morning trade. Indices turned flat in early afternoon trade.
Among secondary barometers, the BSE Mid-Cap index was down 0.18%. The BSE Small-Cap index was up 0.03%.
The market breadth, indicating the overall health of the market, was negative. On BSE, 1061 shares rose and 1168 shares fell. A total of 160 shares were unchanged.
Cement shares were mixed. UltraTech Cement (down 0.73%) and Ambuja Cements (down 0.3%), edged lower.
ACC was up 0.06%. Grasim Industries was up 1.03%. Grasim has exposure to cement sector through its holding in UltraTech Cement.
Also Read
Realty shares were mixed. Parsvnath Developers (up 5.82%), Housing Development and Infrastructure (HDIL) (up 3.86%), Godrej Properties (up 2.40%), Peninsula Land (up 2.14%), Anant Raj (up 0.85%), Mahindra Lifespace Developers (up 0.71%), Sobha (up 0.50%) and DLF (up 0.33%), edged higher. Prestige Estates Projects (down 0.2%), Omaxe (down 0.35%), Oberoi Realty (down 0.41%), Sunteck Realty (down 0.74%), Indiabulls Real Estate (down 1.18%), Unitech (down 1.44%), Phoenix Mills (down 2.07%) and D B Realty (down 4.95%), edged lower.
On economic front, the Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation released the First Advance Estimates of National Income at Constant (2011-12) and Current Prices, for the financial year 2018-19. The advance estimates shows India's GDP would grow 7.2% in 2018-2019, showing acceleration from 6.7% growth in 2017-18. Real gross value added (GVA), i.e, GVA at Basic Constant Prices (2011-12) is anticipated to increase 7.0% in 2018-19 up from 6.5% growth in 2017-18.
Overseas, stocks in Asia traded mixed on Tuesday as investors wait for the second day of US-China trade talks to kick off later in the day. China is reportedly willing to resolve its trade disputes with the US on an equal footing.
US stocks on Monday closed higher, building on Friday's powerful rally, as investors watched for further signs of a thaw in the protracted trade dispute between the US and China.
On the data front, the US services sector expanded at the slowest pace in five months in December, according to the latest reading of the Institute for Supply Management's nonmanufacturing index, released Monday. The index fell to 57.6% in December, from 60.7%.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content