Key equity benchmarks dipped in negative zone in mid-afternoon trade dragged by HDFC and Axis Bank. At 14:28 IST, the barometer index, the S&P BSE Sensex, was off 20.28 points or 0.06% at 33,598.31. The Nifty 50 index was off 6.10 points or 0.06% at 10,364.15. Auto stocks declined. Tyre stocks fell.
Key benchmark indices nudged higher in early trade. Stocks hovered in positive zone in morning trade. Stocks extended gains in mid-morning trade. Key equity benchmarks firmed up in afternoon trade.
The S&P BSE Mid-Cap index was off 0.14%. The fall in this index was higher than Sensex's decline in percentage terms. The S&P BSE Small-Cap index was up 0.13%, outperforming the Sensex.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 1,344 shares rose and 1,286 shares fell. A total of 147 shares were unchanged.
Index heavyweight and housing finance major HDFC lost 1.42% to Rs 1,701.10.
Private banking major Axis Bank dropped 2.26% to Rs 549.50.
Also Read
Auto stocks declined. Maruti Suzuki India (down 0.14%), Mahindra & Mahindra (M&M) (down 0.14%), TVS Motor Company (down 0.87%), Eicher Motors (down 0.78%), Ashok Leyland (down 0.58%) and Escorts (down 0.54%) fell. Tata Motors (up 0.19%), Bajaj Auto (up 0.89%) and Hero MotoCorp (up 0.03%) rose.
Tyre stocks fell. TVS Srichakra (down 2.3%), Apollo Tyres (up 0.08%), Balkrishana Industries (up 0.27%), CEAT (down 0.6%), Goodyear India (down 1.41%), JK Tyre & Industries (down 0.34%) and MRF (down 0.27%) declined.
Butterfly Gandhimathi Appliances was locked at 5% upper circuit at Rs 498.35 , with the stock extending recent rally. Shares of Butterfly Gandhimathi Appliances have spurted 38.44% in eight trading sessions to its ruling market price, from its closing of Rs 359.95 on 17 November 2017.
ADF Foods jumped 13.86% after consolidated net profit rose 89.1% to Rs 5.92 crore on 3.6% decline in net sales to Rs 48.16 crore in Q2 September 2017 over Q2 September 2016. The result was announced after market hours yesterday, 28 November 2017.
Overseas, European stocks opened mostly higher, helped by news of a Brexit deal between the European Union and the UK. As per reports, the UK and the EU have reached a deal on a Brexit divorce bill on Tuesday. The final total will reportedly be around 50 billion.
Asian stocks were mixed as Chinese equities added to declines and a North Korean missile test overshadowed an overnight surge in US equities. US stocks rose to records yesterday, 28 November 2017 on progress towards passage of US tax cuts and a benign confirmation hearing with Federal Reserve Chair nominee Jerome Powell.
The Senate Budget Committee approved the Senate's tax plan on Tuesday, bringing the upper chamber closer to a floor vote, which is expected to take place Thursday. Meanwhile, during his testimony, Powell said that current regulations on the financials sector are tough enough. He also said he supported the tailoring of some regulations to ease the burden on small banks.
On the data front, the Conference Board's consumer-confidence index jumped to 129.5 in November, marking a 17-year high. The advanced US trade deficit in goods rose 6.5% to $68.3 billion in October. Separately, home prices rose at their fastest pace in more than three years in September.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content