Weakness continued on the bourses as key benchmark indices languished in negative terrain in mid-afternoon trade. At 14:17 IST, the barometer index, the S&P BSE Sensex, was off 219.35 points or 0.81% at 26,816.50. The 50-unit CNX Nifty was off 57.80 points or 0.71% at 8,120.60. The Sensex continued to hover below the psychological 27,000 mark after falling below that level earlier during the trading session.
The market breadth indicating the overall health of the market was negative. On BSE, 1,445 shares fell and 1,145 shares rose. A total of 129 shares were unchanged. The BSE Mid-Cap index was down 1%. The fall in the index was higher than Sensex's decline in percentage terms. The BSE Small-Cap index was down 0.3%. The fall in the index was lower than Sensex's decline in percentage terms.
In overseas markets, European stocks edged lower in volatile trade after weak exports data from Germany and caution ahead of the release of the minutes from the last meeting of the US Federal Reserve. The weak German exports data comes close on the heels of recent weak industrial output and manufacturing orders data in Europe's biggest economy. Trading in US index futures indicated that the Dow Jones Industrial Average could slide 101 points at opening bell today, 8 October 2015. In Asia, stocks in mainland China edged higher, catching up to a rally in global equities as trading resumed after a week-long break. The Shanghai Composite ended with a gain of 2.97%.
Metal & mining stocks were mixed. JSW Steel (down 0.4%), Bhushan Steel (down 1.08%), Hindustan Zinc (down 1.76%), National Aluminum Company (down 0.83%) and NMDC (down 0.57%) declined. Hindustan Copper (up 0.26%), Vedanta (up 1.49%), Hindalco Industries (up 1.89%), Jindal Steel & Power (up 0.78%), and Tata Steel (up 1.25%) gained. Steel Authority of India (Sail) was flat.
Cement stocks gained. ACC (up 0.28%), Shree Cement (up 0.32%), Ambuja Cements (up 0.81%), and UltraTech Cement (up 1.46%), gained.
Grasim Industries advanced 0.39%. Grasim has exposure to the cement sector through its holding in UltraTech Cement.
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