Key benchmark indices were trading lower in early trade, tracking negative leads from Asian markets. At 9:20 IST, the barometer index, the S&P BSE Sensex, was down 52.14 points or 0.14% at 36,271.63. The Nifty 50 index was down 7.45 points or 0.07% at 10,929.40.
Among secondary barometers,the BSE Mid-Cap index was down 0.06%, outperforming the Sensex. The BSE Small-Cap index was down 0.29%, underperforming the Sensex.
The market breadth, indicating the overall health of the market, was negative. On BSE, 329 shares rose and 463 shares fell. A total of 40 shares were unchanged.
Overseas, most Asian stocks declined as energy stock came under selling pressure amid overnight fall in crude oil prices.
The International Monetary Fund (IMF) on Monday warned that there was an increased risk of "worse outcomes" amid recent international trade tensions, although it kept its forecasts for global growth this year the same at 3.9%.
In US, the Dow industrials bucked the trend of an otherwise downbeat session on Monday as upbeat economic data and a fresh round of quarterly results failed to stoke buying appetite. Investors also watched President Donald Trump and Russian President Vladimir Putin convene for a summit in Helsinki, Finland but reaction to a joint conference with the two leaders was muted.
More From This Section
On the US data front, US retail sales rose 0.5% in June. Separately, the Empire State Index fell 2.4 points to 22.6 in July. Business inventories in the US rose 0.4% in May, the Commerce Department said. Sales jumped 1.4% in the month.
Back home, Hindustan Unilever (HUL) was up 0.54%. The company's net profit rose 19.17% to Rs 1529 crore on 11.37% rise in net sales to Rs 9356 crore in Q1 June 2018 over Q1 June 2017. The result was announced after market hours yesterday, 16 July 2018.
Larsen & Toubro (L&T) was down 0.41%. BEML was up 2.14%. L&T and BEML have signed a memorandum of understanding (MoU) to jointly capitalise on the emerging opportunities in the domestic and export markets for defence products and systems. The cooperation between the two organisations is aimed to leverage on 'Make in India' initiative for increased value addition within the country in development/manufacturing and long-term support for defence and export business in identified areas/projects/programs, thus synergising their combined strengths. The announcement was made after market hours yesterday, 16 July 2018.
Bharat Electronics (BEL) was up 0.74%. The company has signed a Memorandum of Understanding (MoU) with Saab, Sweden, recently for jointly marketing the L-Band 3D Air Surveillance Radar, RAWL-03, co-developed by BEL and Saab. The announcement was made after market hours yesterday, 16 July 2018.
Sintex Plastics Technology was down 4.61%. The company's consolidated net profit dropped 46.81% to Rs 37.53 crore on 12.18% fall in net sales to Rs 1325.21 crore in Q1 June 2018 over Q1 June 2018. The result was announced after market hours yesterday, 16 July 2018.
Jay Bharat Maruti was up 1.96%. The company's net profit rose 32.81% to Rs 13.44 crore on 34.1% rise in net sales to Rs 505.93 crore in Q1 June 2018 over Q1 June 2018. The result was announced after market hours yesterday, 16 July 2018.
On the economic front, the IMF has cut India's growth forecast by 10 basis points to 7.3% for the current year and by 30 basis points to 7.5% for 2019, citing faster-than-anticipated monetary tightening and higher crude prices. The international body had projected 7.4% and 7.8% growth for 2018 and 2019, respectively in its April forecast.
Powered by Capital Market - Live News