Key benchmark indices edged lower in early trade on weak global cues. At 9:16 IST, the barometer index, the S&P BSE Sensex, was down 91.81 points or 0.36% at 25,731.18. The 50-unit CNX Nifty was down 17.35 points or 0.22% at 7,828.60.
The market breadth indicating the overall health of the market was positive. On BSE, 439 shares rose and 311 shares fell. A total of 40 shares were unchanged. The BSE Mid-Cap index was up 0.08%. The BSE Small-Cap index was up 0.15%. Both these indices outperformed the Sensex.
In overseas markets, Asian market was trading lower as investors fret over the state of the global economy. Japan's Nikkei average, opening for the first time since Friday after national holidays, was trading sharply lower. US market fell yesterday, 23 September 2015, dragged down by economic reports portraying US factory growth as tepid and China in its worst manufacturing contraction since the global financial crisis.
Latest economic data showed US manufacturing growth stayed at a two-year low in September. Financial data firm Markit said its preliminary US Manufacturing Purchasing Managers' Index for September was 53. That was the same as August, which was its lowest since October 2013.
Maruti Suzuki India (MSIL) was down 0.21%. MSIL announced after market hours yesterday, 23 September 2015, that the sales of its vehicles equipped with auto gear shift (AGS) have crossed 50,000 units. AGS vehicles are popular across the country particularly in markets like Delhi NCR, Mumbai, Ahmedabad, Bangalore, Chennai, Hyderabad and Kochi, MSIL said in a statement.
Power Grid Corporation of India (PGCIL) was down 0.08%. PGCIL's board of directors has approved the project for North Eastern Strengthening Scheme-III involving an outlay of Rs 133.71 crore. The company made the announcement after market hours yesterday, 23 September 2015.
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