Volatility continued in morning trade as the key benchmark indices recovered after hitting an intraday low. At 10:15 IST, the barometer index, the S&P BSE Sensex, was down 38.01 points or 0.14% at 27,001.75. The 50-unit CNX Nifty was down 17.90 points or 0.22% at 8,153.30. The losses for the Nifty were higher in percentage terms than those for the Sensex. The Sensex was trading a tad above the psychological 27,000 mark after falling below that level at onset of the day's trading session.
Volatility struck bourses since onset of the day's trading session as traders roll over positions in the futures & options (F&O) segment from the near month October 2015 series to November 2015 series. The near month October 2015 derivatives contracts expire today, 29 October 2015.
Weakness in Asian stocks weighed on sentiment on the domestic bourses. The Sensex fell 103.60 points or 0.38% at the day's low of 26,936.16 in morning trade. The Nifty fell 36.95 points or 0.45% at the day's low of 8,134.25 in morning trade.
The market breadth indicating the overall health of the market was strong. On BSE, 1,057 shares rose and 692 shares fell. A total of 99 shares were unchanged. The BSE Mid-Cap index was off 0.01%. The fall in the index was lower than Sensex's decline in percentage terms. The BSE Small-Cap index was up 0.42%, outperforming the Sensex.
Asian stocks were trading lower after the US Federal Reserve bolstered prospects for a December interest-rate increase. Meanwhile, Japanese factory output unexpectedly rose in September from a month earlier, data released today, 29 October 2015 showed. US stocks rallied yesterday, 28 October 2015 after the US Federal Reserve dropped previous warnings about global risks but signaled that it will consider a rate increase at its next meeting in December. The US Federal Reserve kept interest rates unchanged after the conclusion of its two-day monetary policy meeting yesterday, 28 October 2015. The central bank downplayed recent global financial market turmoil and said the US labour market was still healing despite a slower pace of job growth.
Capital goods stocks declined. Bharat Heavy Electricals (Bhel) (down 2.54%), L&T (down 1.02%), Siemens (down 1.04%), BEML (down 0.16%) and Crompton Greaves (down 0.19%) declined. Bharat Electronics (up 1.32%), ABB India (up 0.22%) and Thermax (up 0.74%) rose.
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Realty stocks edged higher. Oberoi Realty (up 2.21%), Housing Development and Infrastructure (up 1.03%), D B Realty (up 0.48%), DLF (up 0.26%), Indiabulls Real Estate (up 0.76%), Sobha (up 0.45%) and Godrej Properties (up 0.42%) gained. Unitech (down 1.05%) and Parsvnath Developers (down 0.85%) fell.
Pidilite Industries rose 1.36% after consolidated net profit rose 38.01% to Rs 191.70 crore on 4.93% growth in total income to Rs 1332.31 crore in Q2 September 2015 over Q2 September 2014. The result was announced after market hours yesterday, 28 October 2015.
Raymond declined 2.93% after consolidated net profit fell 86% to Rs 9 crore on 2% increase in revenue to Rs 1508 crore in Q2 September 2015 over Q2 September 2014. The result was announced by the company after market hours yesterday, 28 October 2015.
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