Key equity indices pared gains in morning trade after hitting fresh intraday high in early trade. At 10:30 IST, the barometer index, the S&P BSE Sensex, was up 165.09 points or 0.45% at 36,781.90. The Nifty 50 index was up 54.45 points or 0.50% at 10,988.80. Most IT shares advanced. Most metal shares declined.
Indices opened higher and hit fresh intraday high in early trade. Indices pared gains in morning trade. The Nifty retracted after briefly crossing the psychologically important 11,000 mark in early trade.
Broader market witnessed selling. Among secondary barometers, the BSE Mid-Cap index was down 0.96%. The BSE Small-Cap index was down 0.73%.
The market breadth, indicating the overall health of the market, turned negative from positive. On BSE, 647 shares rose and 1284 shares fell. A total of 98 shares were unchanged.
Most metal shares declined. Vedanta (down 1.88%), Jindal Steel & Power (down 1.74%), NMDC (down 1.33%), Steel Authority of India (down 0.99%), National Aluminium Company (down 0.87%), Hindalco Industries (down 0.83%), Hindustan Copper (down 0.68%) and JSW Steel (down 0.48%), edged lower. Tata Steel (up 0.17%) and Hindustan Zinc (up 0.33%), edged higher.
Most IT shares advanced. Tech Mahindra (up 5.87%), MindTree (up 1.38%), Infosys (up 1.22%), Wipro (up 1.14%), HCL Technologies (up 1.13%), MphasiS (up 1.08%), Oracle Financial Services Software (up 1.07%) and TCS (up 0.95%), edged higher. Hexaware Technologies (down 0.11%) and Persistent Systems (down 1.58%), edged lower.
Century Plyboards (India) rose 1.38% after the company's board of directors approved a proposal for setting-up a particle board and MDF unit at Uttar Pradesh. The announcement was made after market hours yesterday, 5 February 2019.
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