Late recovery helped the key indices settle with modest losses after a volatile session of trade. The barometer index, the S&P BSE Sensex, lost 161.70 points or 0.42% at 38,700.53. The Nifty 50 index lost 61.45 points or 0.53% at 11,604.50.
Domestic stocks nudged higher in early trade on positive Asian stocks. A divergent trend was witnessed in morning trade as the barometer index, the S&P BSE Sensex, was trading with small gains while the Nifty 50 index was trading with tiny losses. Key indices dipped in negative zone in mid-morning trade. Stocks hovered in negative zone in early afternoon trade. Fresh selling in index pivotals dragged the key indices to intraday low in mid-afternoon trade. Stocks cut losses in late trade.
The S&P BSE Mid-Cap index fell 0.72%. The S&P BSE Small-Cap index fell 0.39%.
The market breadth, indicating the overall health of the market, was negative. On the BSE, 1072 shares rose and 1498 shares fell. A total of 192 shares were unchanged.
Yes Bank (down 2.66%), Bajaj Finance (down 2.57%), Vedanta (down 2.51%), Reliance Industries (down 1.9%) and SBI (down 1.32%) were the major Sensex losers.
Mahindra & Mahindra (up 1.07%), TCS (up 0.89%), Power Grid Corporation of India (up 0.74%), ONGC (up 0.74%) and NTPC (up 0.74%) were the major Sensex gainers.
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The BJP said that it will provide short term new agriculture loans up to Rs 1 lakh at a 0% interest rate for 1-5 years on the condition of prompt repayment of the principal amount. The BJP said that India is no longer helpless against terror. Any destructive ideology that destroys the atmosphere of peace and unity is and will be given a being reply.
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Overseas, European shares edged lower while Asian shares are trading on a mixed note on Monday, as investors prepare for US earnings season.
On the Brexit front, U.K. Prime Minister Theresa May is still searching for a new plan to secure a delay to Brexit from EU leaders at a summit on Wednesday. U.K. lawmakers have so far failed to approve a withdrawal agreement, with the world's fifth-largest economy set to leave the bloc on April 12.
U.S. stocks closed higher Friday, as investors cheered a solid jobs report and upbeat comments on prospects for a U.S.-China trade deal. Chinese President Xi Jinping reportedly said in a letter to US President Donald Trump that substantial progress had been made in U.S.-China talks over the past months and called for negotiations to be wrapped up as soon as possible.
March jobs report showed that the U.S. economy added 196,000 new jobs. The Labor Department's official measure of unemployment held steady at 3.8%. Wage growth remained modest, with average hourly earnings rising 4 cents to $27.70, a year-over-year increase of 3.2%, down from 3.4% in February.
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