A bout of volatility was witnessed as key benchmark indices trimmed losses after extending initial slide. At 10:13 IST, the barometer index, the S&P BSE Sensex, was down 73.12 points or 0.29% at 25,257.37. The 50-unit Nifty 50 index was currently down 15.50 points or 0.2% at 7,699.40. A subdued trend in Asian stocks weighed on the domestic bourses.
The Sensex fell 121.05 points or 0.47% at the day's low of 25,209.44 in early trade. The barometer index fell 8.39 points or 0.03% at the day's high of 25,322.10 in opening trade. The Nifty fell 28.75 points or 0.37% at the day's low of 7,686.15 in early trade. The index rose 3.35 points or 0.04% at the day's high of 7,718.25 at the onset of the trading session.
The market breadth indicating the overall health of the market was positive. On BSE, 989 shares rose and 745 shares fell. A total of 88 shares were unchanged. The BSE Mid-Cap index was currently up 0.05%. The BSE Small-Cap index was currently up 0.34%. Both these indices outperformed the Sensex.
In overseas stock markets, Asian stocks were trading lower following lackluster cues overnight from US markets and geopolitical concerns following the deadly terror attacks in Brussels yesterday, 22 March 2016. Most US stocks fell yesterday, 22 March 2016, as a decline in financial and consumer-staples shares weighed on the main benchmarks.
Metal and mining stocks gained. Hindalco Industries (up 3.91%), Vedanta (up 1.4%), JSW Steel (up 0.71%), Tata Steel (up 1.03%), Steel Authority of India (Sail) (up 2.2%), Hindustan Zinc (up 0.97%), Jindal Steel & Power (up 2.76%), NMDC (up 0.79%) and Hindustan Copper (up 0.96%) edged higher.
Copper edged lower in the global commodities market. High Grade Copper for May 2016 delivery was currently off 0.31% at $2.2825 per pound on the COMEX.
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National Aluminium Company (Nalco) declined 2.02% to Rs 38.75 as the stock turned ex-dividend for an interim dividend of Rs 1.25 per share for the year ending 31 March 2016. Before turning ex-dividend, the stock offered a dividend yield of 3.16% based on the stock's closing price of Rs 39.55 on the BSE yesterday, 22 March 2016.
Index heavyweight and engineering and construction major L&T advanced 0.44% after the company announced winning orders worth Rs 3205 crore across its various businesses. The announcement was made during market hours today, 23 March 2016.
Realty stocks rose. DLF (up 0.91%), Indiabulls Real Estate (up 0.36%), Omaxe (up 0.56%), Sobha (up 0.49%), Godrej Properties (up 0.6%), Oberoi Realty (up 0.29%) and Parsvnath Developers (up 1.36%) gained. Housing Development and Infrastructure (down 0.22%), D B Realty (down 0.76%) and Unitech (down 0.57%) fell.
Kalpataru Power Transmission jumped 7.2% after the company said it has secured new orders worth about Rs 1320 crore. The company's Managing Director Manish Mohnot said that the company has secured orders aggregating more than Rs 7450 crore in the current financial year so far, with around 55% contribution from domestic transmission business, 10% from domestic infrastructure business and balance from international markets. The announcement was made after market hours yesterday, 22 March 2016.
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