Gains in stocks of public sector banks and recovery in index heavyweight ITC helped key benchmark indices erase a lion's portion of intraday losses in afternoon trade. At 13:16 IST, the barometer index, the S&P BSE Sensex, was down 32.33 points or 0.13% at 25,229.88. The Nifty 50 index was currently down 9.85 points or 0.13% at 7,725.65. In overseas stock markets, Asian stocks edged lower as investors turned cautious before the release of the influential US monthly non-farm payroll data.
The Sensex lost 23.23 points or 0.09% at the day's high of 25,238.98 in afternoon trade. The barometer index lost 204.28 points or 0.8% at the day's low of 25,057.93 in early trade, its lowest level since 12 April 2016. The Nifty lost 4.20 points or 0.05% at the day's high of 7,731.30 in afternoon trade. The Nifty lost 57.15 points or 0.73% at the day's low of 7,678.35 in early trade, its lowest level since 12 April 2016.
The market breadth indicating the overall health of the market was negative. On BSE, 1,234 shares declined and 1,074 shares rose. A total of 150 shares were unchanged. The BSE Mid-Cap index was currently up 0.53%. The BSE Small-Cap index was currently up 0.12%. Both these indices outperformed the Sensex.
In overseas stock markets, European shares witnessed a mixed trend. Chinese stocks led decline in Asian markets as investors turned cautious before the release of the influential US monthly non-farm payroll data for more clues about the interest rate outlook in the world's largest economy. In China, the Shanghai Composite ended 2.82% lower. In Hong Kong, the Hang Seng index was currently down 1.66%.
Most US stocks edged lower yesterday, 5 May 2016, as investors awaited the key non-farm payrolls data. The US government will release the non-farm payroll data for April 2016 later in the global day today, 6 May 2016. The non-farm payroll data could provide more clues about the timing and quantum of future interest rate increases from the US Federal Reserve. The job data has implications for the US monetary policy. The US central bank's mandate centers on maximizing employment and keeping inflation at a 2% target level. The Federal Open Market Committee (FOMC) next undertakes monetary policy review at a two-day meeting on 14-15 June 2016.
Maruti Suzuki India was down 0.52% to Rs 3,820. The company announced during trading hours today, 6 May 2016, that its total production rose 9.32% to 1.25 lakh units in April 2016 over April 2015.
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IndusInd Bank was down 0.36% to Rs 1,033.50. The bank announced during trading hours today, 6 May 2016, that it has inaugurated a new branch located at CR Avenue in Kolkata. With this, IndusInd Bank now has 15 branches in Kolkata and 42 branches in the state of West Bengal. The bank said it plans to further strengthen its presence and customer reach in West Bengal with more branches in the corning quarters.
Realty shares edged lower. Anant Raj (down 3.69%), Peninsula Land (down 1.75%), Phoenix Mills (down 1.73%), Sobha (down 1.72%), Sunteck Realty (down 1.71%), Godrej Properties (down 1.38%), Housing Development and Infrastructure (HDIL) (down 0.98%), Prestige Estates Projects (down 0.97%), Unitech (down 0.67%), DLF (down 0.56%), Parsvnath Developers (down 0.27%) and Oberoi Realty (down 0.02%), edged lower. D B Realty (up 1.32%), Mahindra Lifespace Developers (up 1.33%) and Indiabulls Real Estate (up 2.73%), edged higher.
Metal shares were mixed. National Aluminium Company (up 3.85%), Hindustan Zinc (up 1.34%), Hindustan Copper (up 1.15%), NMDC (up 0.80%), Hindalco Industries (up 0.61%) and JSW Steel (up 0.09%), edged higher. Steel Authority of India (down 0.24%), Tata Steel (down 0.71%), Vedanta (down 1.19%), Bhushan Steel (down 1.32%) and Jindal Steel & Power (down 2.35%), edged lower.
Copper edged higher in the global commodities markets. High Grade Copper for July 2016 delivery was currently up 0.35% at $2.1615 per pound on the COMEX.
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