The key indices swung into negative terrain in mid-afternoon trade. At 14:30 IST, the barometer index, the S&P BSE Sensex, was down 77.41 points or 0.21% at 36,246.76. The Nifty 50 index was down 51.65 points or 0.47% at 10,925.90. The Nifty was hovering below 11,000 mark.
Broader market slumped. Among secondary barometers, the BSE Mid-Cap index was down 1.63%. The BSE Small-Cap index was down 3.35%. Both these indices underperformed the Sensex.
The market breadth, indicating the overall health of the market, was weak. On BSE, 440 shares rose and 2107 shares fell. A total of 139 shares were unchanged.
Shares of Infibeam Avenues plunged 62.14% to Rs 74.80. The crash came a day ahead of the company's scheduled annual general meeting (AGM) on Saturday. The company in voluntary clarification to BSE said it had always provided timely information and clarifications as sought by the stock Exchanges. There is no pending information or announcement from the company which may have a bearing on price behaviour of the scrip, the firm said.
Cement shares declined. Ambuja Cements (down 1.87%), UltraTech Cement (down 1.74%) and ACC (down 1.06%), edged lower.
Grasim Industries was down 1.75%. Grasim has exposure to cement sector through its holding in UltraTech Cement.
Telecom shares declined. Bharti Airtel (down 4.82%), Reliance Communications (down 4.82%), MTNL (down 3.55%) and Vodafone Idea (down 2.59%), edged lower. Tata Teleservices (Maharashtra) was up 4.32%.
More From This Section
Telecom tower infrastructure provider Bharti Infratel was down 0.67%.
Overseas, European stocks were trading lower while Asian shares were mixed on Friday, as investors monitor political turmoil seen in Europe and overseas.
The moves in Japanese stocks came after the release of data that showed the country's unemployment rate fell 0.1% from the previous month to 2.4%. The country also saw an increase in its month-on-month industrial output in August, while retail sales in August was higher as compared to a year earlier.
In the Bank of Japan's release of its summary of opinions for its meeting earlier in September, the central bank said "the contrast between the favorable US economy and other economies is becoming more evident, mainly reflecting US trade policy, and uncertainties regarding their outlook have been heightening as well."
US stocks closed higher Thursday, with the S&P 500 and the Dow Jones Industrial Average snapping a multiday losing streak, as solid data bolstered confidence in the economy a day after the Federal Reserve raised interest rates for the third time this year.
Fed Chairman Jerome Powell said on Thursday that the US does not face a large chance of a recession in the next two years and the Federal Reserve plans to keep gradually raising interest rates.
In the latest US economic data, jobless claims rose less than expected in the latest week, remaining near multi-decade lows. Orders for durable goods rose 4.5%, faster than had been expected. US real gross domestic product for the second quarter rose at a 4.2% annualized rate, unchanged from the earlier estimate, the Commerce Department said. US pending home sales unexpectedly dropped in August, falling 1.8% in the latest example of weak housing data.
Powered by Capital Market - Live News