More than three losers for every gainer on BSE

Volatility continued in mid-afternoon trade as the key benchmark indices slipped into the red once again after staging recovery from the negative terrain. At 14:20 IST, the barometer index, the S&P BSE Sensex, was down 30.88 points or 0.09% at 34,812.63. The Nifty 50 index was down 30.75 points or 0.29% at 10,710.80. Profit booking was witnessed after indices scaled record highs yesterday, 15 January 2018.

Indices opened with small gains and hovered in the positive terrain near the flat line till morning trade. Stocks pared losses after slipping into the red in mid-morning trade. The market once again moved into the positive terrain in early afternoon trade. Stock drifted lower in afternoon trade. Indices slipped into the red once again after staging recovery in mid-afternoon trade.

Among the secondary indices, the S&P BSE Mid-Cap index fell 1.66%. The S&P BSE Small-Cap index dropped 2.03%. Both these indices underperformed the Sensex.

The broad market depicted weakness. There were more than three losers for every gainer on BSE. 2,203 shares declined and 691 shares rose. A total of 112 shares were unchanged.

Auto stocks declined. Mahindra & Mahindra (M&M) (down 1.19%), Ashok Leyland (down 2.89%), Maruti Suzuki India (down 0.45%), Eicher Motors (down 0.62%), Hero MotoCorp (down 0.42%), Bajaj Auto (down 0.01%), Tata Motors (down 1.9%) and TVS Motor Company (down 1.83%) declined.

Pharma stocks were mixed. Glenmark Pharmaceuticals (up 0.79%), Dr Reddy's Laboratories (up 1.22%), Divi's Laboratories (up 0.47%), and Sun Pharmaceutical Industries (up 0.32%) gained. Aurobindo Pharma (down 1.63%), Cipla (down 1%), Cadila Healthcare (down 0.69%), and Lupin (down 0.52%) declined.

Tech Mahindra rose 2.99% after the company said that it partnered with ContextSpace Solutions, a privacy research and development firm based in Israel, to develop the world's first global software privacy ecosystem, MyData Shield. Providing a comprehensive approach to data protection thereby delivering privacy by design and by default, the cloud-based "software privacy ecosystem" enables corporate software developers and start-ups to meet tough, global privacy and data protection regulations.

By 2020, over one-third of all data will live in or pass through the cloud, with data production in 2020 being estimated at 44 times greater than it was in 2009.Tech Mahindra issued the press release on its website yesterday, 15 January 2018.

Among macroeconomic data, exports rose 12.36% to $27.03 billion in December 2017 over December 2016. Imports rose 21.12% to $41.91 billion in December 2017 over December 2016. The trade deficit for December 2017 was estimated at $14.88 billion as against the deficit of $10.54 billion during December 2016.

Overseas, most European stocks edged higher as investors awaited the release of corporate earnings. On macro front, the trade surplus in the 19 countries sharing the euro expanded in November to its highest point in eight months. The European statistics office Eurostat said the euro zone's surplus in goods trade rose in unadjusted terms to 26.3 billion euros in November, up from 18.9 billion euros in October. It was also higher than the 23.8 billion surplus recorded a year earlier.

Asian stocks gained, erasing early losses amid announcements of corporate earnings. US stock markets remained shut yesterday, 15 January 2018, for the Martin Luther King Jr. holiday.

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