A divergent trend was witnessed in morning trade as the barometer index, the S&P BSE Sensex, was trading with small gains while the Nifty 50 index was trading with small losses. At 10:28 IST, the barometer index, the S&P BSE Sensex, was up 10.74 points or 0.03% at 35,227.85. The Nifty 50 index was down 15.05 points or 0.14% at 10,656.35.
Domestic stocks edged lower in early trade tracking mostly lower Asian stocks.
Trading could be volatile as traders roll over positions in the F&O segment from the near month June 2018 series to July 2018 series. The June 2018 F&O contracts expire today, 28 June 2018.
The S&P BSE Mid-Cap index was down 0.18%. The S&P BSE Small-Cap index was down 0.46%. Both these indices underperformed the Sensex.
The market breadth, indicating the overall health of the market, was negative. On the BSE, 829 shares rose and 1209 shares fell. A total of 86 shares were unchanged.
Overseas, Asian markets are trading mostly lower in view of conflicting messages from US President Donald Trump and his aides over whether he would adopt a confrontational approach to limit Chinese investment in America. US stocks fell yesterday, 27 June 2018 as a drop in technology stocks and financials more than offset an advance in the energy sector.
Trump has softened the threat of new curbs on Chinese investment in US firms. Separately, top US economic advisor Larry Kudlow said the Trump administration has no intention of backing down from the current China situation.
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Back home, M&M (up 2.05%), Infosys (up 1.53%) and Vedanta (up 1.35%) edged higher from the Sensex pack.
ICICI Bank (down 1.67%), Coal India (down 1.54%) and L&T (down 1.47%) edged lower from the Sensex pack.
Dr Reddy's Laboratories rose 0.79%. With regard to the audit of API Hyderabad Plant 3 at Bollaram, Medak District, Telangana and API Hyderabad Plant 1 at Jinnaram Mandal, Medak District, Telangana, respectively, Dr Reddy's Laboratories informed that it has received an Establishment Inspection Report (EIR) from the US Food and Drug Administration (USFDA), for both of facilities. The announcement was made during trading hours today, 28 June 2018.
Mercator rose 3.16% after the company announced that its group firm bagged mining lease for exploiting oil discoveries in block CB-ONN-2005/9. The announcement was made after market hours yesterday, 27 June 2018.
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