Key benchmark indices witnessed sharp volatility in mid-morning trade. At 11:20 IST, the barometer index, the S&P BSE Sensex, was down 5.26 points or 0.02% at 25,605.27. The Nifty 50 index was down 4.60 points or 0.06% at 7,757.65. The BSE Sensex and the Nifty 50 index, both, turned negative once again after briefly turning positive.
The BSE Sensex and the Nifty 50 index recovered after hitting their lowest level in almost seven weeks. The BSE Sensex fell 159.11 points, or 0.62% at the day's low of 25,451.42 in morning trade, its lowest level since 29 September 2015. The Nifty 50 index fell 48.10 points, or 0.62% at the day's low of 7,714.15, in morning trade, its lowest level since 29 September 2015.
The market breadth indicating the overall health of the market was negative. On BSE, 1,132 shares fell and 1,065 shares rose. A total of 141 shares were unchanged. The BSE Mid-Cap index was down 0.17%. The decline in this index was higher than the Sensex's decline in percentage terms. The BSE Small-Cap index was up 0.08%, outperforming the Sensex.
In overseas markets, Asian markets declined today, 16 November 2015, after terror attacks in Paris unnerved investors and data showed Japan entered a recession for the second time in two years. Selling hit Wall Street for a third straight day on Friday, 13 November 2015, amid a selloff in retail stocks, capping the worst week for the major averages since August. Investors are grappling with uncertain market conditions due to coming Fed rate hikes, global economic worries, falling oil prices and fears of a weakening retail sector.
Most metal shares edged higher. Bhushan Steel (up 2.55%), Hindustan Copper (up 1.97%), National Aluminium Company (up 1.40%), Jindal Steel & Power (up 0.95%), Steel Authority of India (up 0.89%), Tata Steel (up 0.70%) and NMDC (up 0.05%), edged higher. Vedanta (down 0.06%), Hindalco Industries (down 0.45%), Hindustan Zinc (down 1.07%) and JSW Steel (down 1.21%), edged lower.
Power generation stocks were mixed. GMR Infrastructure (up 5.47%), Adani Power (up 3.10%), Reliance Infrastructure (up 2.02%), Reliance Power (up 1.65%), JSW Energy (up 0.78%), Jaiprakash Power Ventures (up 0.58%) and NHPC (up 0.27%), edged higher. Torrent Power (down 0.16%), NTPC (down 0.23%), Tata Power (down 1.17%) and CESC (down 2.43%), edged lower.
MMTC jumped 7.70% to Rs 45.45 after the company reported net profit of Rs 43.84 crore in Q2 September 2015 as compared with net loss of Rs 10.08 crore in Q2 September 2014. The result was announced after market hours on Friday, 13 November 2015.
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