Amid a bout of volatility, key benchmark indices hovered in negative zone in early afternoon trade. At 12:17 IST, the barometer index, the S&P BSE Sensex, was down 292.46 points or 1.18% at 24,501.50. The losses for the Sensex were higher in percentage terms than those for the 50-unit Nifty 50 index. The Nifty was down 64.90 points or 0.86% at 7,466.90.
The Sensex rose 23.52 points, or 0.09% at the day's high of 24,817.48 in early trade. The index fell 293.54 points, or 1.18% at the day's low of 24,500.42 in early afternoon trade. The Nifty 50 index rose 15.30 points, or 0.20% at the day's high of 7,547.10 in early trade. The index fell 72 points, or 0.96% at the day's low of 7459.80 in mid-morning trade.
The market breadth indicating the overall health of the market turned negative from positive. On BSE, 1,149 shares fell and 1,115 shares rose. A total of 145 shares were unchanged. The BSE Mid-Cap index was currently down 0.20%. The BSE Small-Cap index was currently down 0.02%. The decline in both these indices was lower than the Sensex's decline in percentage terms.
In the overseas market, most Asian stocks edged higher today, 10 March 2016, after New Zealand surprised markets with a rate cut, keeping investors primed for more stimulus from the European Central Bank (ECB) later today, 10 March 2016, as global policy makers step up efforts to support their wobbly economies. A rebound in the price of oil, a source of recent anxiety, also calmed investor nerves. In mainland China, Shanghai Composite was down 0.56%. Hong Kong's Hang Seng index was up 0.33%. US stocks closed modestly higher yesterday, 9 March 2016, as a rally in oil prices and sharp advances in energy and tech stocks kept the main indexes buoyant.
Power generation stocks were mixed. GMR Infrastructure (down 1.48%), CESC (down 0.74%), NHPC (down 0.7%), Adani Power (down 0.5%), Jaiprakash Power Ventures (down 0.41%) and Reliance Power (down 0.21%), edged lower. Tata Power (up 0.51%), NTPC (up 0.75%), Reliance Infrastructure (up 0.81%), Torrent Power (up 1.27%) and JSW Energy (up 1.59%), edged higher.
Capital goods shares were mixed. Bharat Heavy Electricals (down 2.93%), Alstom T&D India (down 2.69%), Larsen & Toubro (down 1.53%), ABB India (down 1.28%), AIA Engineering (down 1.28%), Siemens (down 1.15%), Crompton Greaves (down 1.02%), Havells India (down 0.91%), BEML (down 0.82%), Bharat Electronics (down 0.68%) and SKF India (down 0.68%), edged lower. ALSTOM India (up 0.22%), Thermax (up 0.37%), Suzlon Energy (up 0.41%), Pipavav Defence and Offshore Engineering Company (up 0.42%), Punj Lloyd (up 0.42%), Lakshmi Machine Works (up 0.80%), Praj Industries (up 0.85%) and Jindal Saw (up 2.45%), edged higher.
PTC India rose 2.97% after the company announced that PTC Energy has achieved successful commissioning of its 30 megawatts wind power project at Jaora, Ratlam district in Madhya Pradesh on 8 March 2016. PTC Energy is a subsidiary of PTC India. The announcement was made after trading hours yesterday, 9 March 2016.
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Bajaj Auto rose 0.71% after the company's board of directors declared an interim dividend of Rs 50 per share for the year ending 31 March 2016. The announcement was made after trading hours yesterday, 9 March 2016. The Bajaj Auto stock offers a dividend yield of 2.16% based on its closing price of Rs 2,313.85 on the BSE yesterday, 9 March 2016.
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