After sharply paring losses in afternoon trade, key benchmark indices entered into positive zone, albeit for a brief phase in mid-afternoon trade, boosted by gains in European bourses. At 14:15 IST, the barometer index, the S&P BSE Sensex lost 2.46 points or 0.01% at 32,606.70. The Nifty 50 index fell 20.70 points or 0.2% at 10,213.75.
Key indices opened the session lower and languished in negative terrain till afternoon trade on profit booking after the two key indices hit record highs yesterday, 17 October 2017. Indices entered into positive terrain for a brief phase in mid-afternoon trade, before hovering around the flat line. Overall, trading sentiment was dull so far in the session ahead of a long Diwali holiday weekend.
Stock markets remain closed tomorrow, 19 October 2017 on account of Diwali Laxmi Pujan and again on Friday, 20 October 2017 on account of Diwali Balipratipada. However, markets will remain open for Muhurat trading tomorrow, 19 October 2017. The Muhurat trading session on account of Diwali Laxmi Pujan will be between 18:30 IST to 19:30 IST tomorrow, 19 October 2017.
The Sensex rose 61.16 points or 0.18% at the day's high of 32,670.32 in mid-afternoon trade. The index lost 146.31 points or 0.44% at the day's low of 32,462.85 in morning trade, its lowest level since 16 October 2017. The Nifty rose 2 points or 0.01% at the day's high of 10,236.45 in mid-afternoon trade. The index lost 58.70 points or 0.57% at the day's low of 10,175.75 in morning trade, its lowest level since 16 October 2017.
Among the secondary indices, the S&P BSE Mid-Cap index rose 0.18%. The S&P BSE Small-Cap index advanced 0.09%. Both these indices outperformed the Sensex.
The breadth, indicating the overall health of the market, turned positive from negative. On the BSE, 1,291 shares rose and 1,277 shares declined. A total of 134 shares were unchanged.
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Gas utility stocks were mixed. Gujarat Gas (down 0.61%), GAIL (India) (down 0.58%) and Gujarat State Petronet (down 0.08%) declined. Indraprastha Gas (up 2.9%) and Petronet LNG (up 2.09%) advanced.
Aviation stocks were mostly higher. InterGlobe Aviation (up 3.53%) and Jet Airways (India) (up 0.65%) gained. SpiceJet (down 2.23%) declined.
UltraTech Cement was up 1.15% at Rs 4,135.30. The company's consolidated net profit fell 31.1% to Rs 423 crore on 19.83% growth in net sales to Rs 6840 crore in Q2 September 2017 over Q2 September 2016. The result was announced during market hours today, 18 October 2017.
Shares of MAS Financial Services were trading at Rs 673.25 on BSE, a premium of 46.67% over the issue price of Rs 459 on its debut on the stock exchanges today, 18 October 2017. The shares got listed at Rs 660 on BSE. The stock had hit a high of Rs 680.95 and a low of Rs 625 so far during the day.
Overseas, European shares edged higher as investors monitored the latest batch of earnings and economic data releases.
Most Asian stocks edged lower as investors in the region looked to China's Party Congress for signs on future policy direction in the world's second-largest economy. The 19th National Congress of the Communist Party of China commenced in Beijing today, 18 October 2017. In his opening remarks, Chinese President Xi Jinping was quoted as saying that his nation's prospects as bright but made a rare acknowledgement of severe economic challenges. Among the grave issues Xi said were insufficiently addressed are a widening income gap and problems in employment, education, medical care and other areas, reports suggested.
US stocks closed mostly higher yesterday, 17 October 2017. The Dow Jones industrial average rose and broke above 23,000 for the first time on an intraday basis.
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