Key benchmark indices languished in negative terrain in mid-afternoon trade as weakness in global stocks weighed on sentiment. The barometer index, the S&P BSE Sensex, was down 42.86 points or 0.17%, off close to 100 points from the day's high and up about 20 points from the day's low. The market breadth indicating the overall health of the market was positive.
Most realty stocks gained. Index heavyweight Reliance Industries (RIL) declined. Shares of state-run aluminium major National Aluminium Company jumped.
At 14:20 IST, the S&P BSE Sensex was down 42.86 points or 0.17% to 25,326.04. The index shed 62.48 points at the day's low of 25,306.42 in afternoon trade. The index rose 58.90 points at the day's high of 25,427.80 in early trade, its highest level since 18 June 2014.
The CNX Nifty was down 8.10 points or 0.11% to 7,572.10. The index hit a low of 7,564.05 in intraday trade. The index hit a high of 7,589.25 in intraday trade.
The market breadth indicating the overall health of the market was positive. On BSE, 1,581 shares gained and 1,310 shares fell. A total of 116 shares were unchanged.
The BSE Mid-Cap index was up 49.24 points or 0.54% at 9,210.42. The BSE Small-Cap index was up 48.47 points or 0.49% at 10,026.18. Both these indices outperformed the Sensex.
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Among the 30 Sensex shares, 17 rose and remaining shares fell. Bharti Airtel (down 1.6%), ONGC (down 1.39%) and ICICI Bank (down 1.34%) edged lower from the Sensex pack.
National Aluminium Company which is known by its acronym Nalco rose 5.91% to Rs 61.80, with the stock extending Tuesday's 6.19% gains. The stock hit a 52-week high of Rs 62.55 in intraday trade.
Most realty stocks gained. Housing Development & Infrastructure (HDIL) (up 1.14% to Rs 93.50), D B Realty (up 0.09% to Rs 110.40), Godrej Properties (up 3.86% to Rs 246.50), and Unitech (up 1.88% to Rs 35.20) gained. But, DLF fell 0.43% to Rs 218.30.
Index heavyweight Reliance Industries (RIL) declined 0.58% to Rs 1,053.50. The stock hit high of Rs 1,060 and low of Rs 1,048.60 so far during the day.
With small gains, the Sensex hit one-week high at the onset of the trading session. Key benchmark indices alternately swung between positive and negative zone in early trade. The Sensex continued to alternately move between positive and negative zone in morning trade. Key benchmark indices hovered in negative terrain in mid-morning trade. Key benchmark indices trimmed losses after hitting fresh intraday low in early afternoon trade. The Sensex hit fresh intraday low in afternoon trade as European stocks dropped in early trade there. Indices were trading slightly lower in mid-afternoon trade.
Indian stocks may remain volatile in the near future as traders roll over positions in the futures & options (F&O) segment from the near month June 2014 series to July 2014 series. The near-month June 2014 F&O contract expire tomorrow, 26 June 2014.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 60.22, compared with its close of 60.1325/1425 on Tuesday, 24 June 2014.
Brent crude oil futures dropped. Brent crude futures for August delivery were off 61 cents at $113.85 a barrel. The contract had risen 34 cents to settle at $114.46 on Tuesday, 24 June 2014. Iraq is a key oil exporter in the world.
The Budget Session of Parliament will commence from 7 of July 2014 and the session is scheduled to conclude on the 14 August 2014, the Ministry of Parliamentary Affairs said on Tuesday, 24 June 2014.
European stocks fell for a fourth day on Wednesday, 25 June 2014, the longest stretch in seven weeks, as violence in the Middle East escalated. Key benchmark indices in UK, France and Germany were down by 0.37% to 0.58%.
Asian stocks dropped on Wednesday, 25 June 2014, led by material shares, as escalating violence in the Middle East sapped demand for riskier assets. Key benchmark indices in Japan, China, Indonesia, Hong Kong, South Korea and Taiwan fell by 0.06% to 0.71%. Singapore's Straits Times rose 0.08%.
Trading in US index futures indicated that the Dow could fall 3 points at the opening bell on Wednesday, 25 June 2014. US stocks fell for the second day on Tuesday, 24 June 2014, as reports of escalating violence in the Middle East overshadowed data that boosted optimism in the world's biggest economy.
Data showed purchases of new homes in the US rose in May by the most in 22 years, indicating the industry is rebounding from a winter-induced lull at the start of the year. The Conference Board's index of US consumer confidence increased to 85.2 in June from 82.2 a month earlier, the New York-based private research group said yesterday.
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