After a mild recovery in afternoon trade, benchmark indices extended losses and hit fresh intraday lows in mid afternoon session. The Nifty slipped below 11,800-mark. At 14:26 IST, the barometer index, the S&P BSE Sensex, was down 149 points or 0.38% at 39,437.01. The Nifty 50 index was down 42.05 points or 0.36% at 11,799.50.
The S&P BSE Mid-Cap index was down 0.18%. The S&P BSE Small-Cap index was down 0.13%.
The market breadth, indicating the overall health of the market, was negative. On the BSE, 1061 shares rose and 1320 shares fell. A total of 165 shares were unchanged.
State Bank of India was up 0.46% at Rs 363.73. It hit a 52-week high of Rs 364.85 in intraday today.
Titan Company was up 0.09% at Rs 1,330. It hit a 52-week high of Rs 1,332.10 in intraday today.
Bajaj Finance was up 0.92% at Rs 3,673.5. It hit a 52-week high of Rs 3,683.55 in intraday today.
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Bajaj Finserv was up 0.74% at Rs 8,508. It hit a 52-week high of Rs 8,508 in intraday today.
Godrej Properties was up 0.26% at Rs 1,003. It hit a 52-week high of Rs 1,014 in intraday today.
Oberoi Realty was up 2.2% at Rs 605. It hit a 52-week high of Rs 607.35 in intraday today.
Auto stocks witnessed selling. Ashok Leyland (down 1.53%), Bajaj Auto (down 0.7%), Mahindra and Mahindra (down 0.58%), Eicher Motors (down 0.42%), Maruti Suzuki India (down 0.42%) and Hero MotoCorp (down 0.3%) edged lower. Escorts (up 1.91%) and TVS Motor Company (up 0.43%) edged higher.
PVR was up 1.98% after the company announced opening 4 screens multiplex at Preston Mall, Hyderabad. With this opening, PVR now operates with 785 screens at 167 properties in 67 cities.
FMCG stocks were mixed. GlaxoSmithkline Consumer Healthcare (up 1.83%), Jyothy Laboratories (up 1.05%), Britannia Industires (up 0.79%), and Bajaj Consumer Care (up 0.67%) Nestle India (up 0.5%) and Hindustan Unilever (up 0.25%) advanced. Tata Global Beverages (down 1.83%), Godrej Consumer Products (down 1.02%), Dabur India (down 0.9%), Procter & Gamble Hygiene & Health Care (down 0.56%), Marico (down 0.26%) and Colgate Palmolive (India) (down 0.01%) declined.
Can Fin Homes was up 1.61% to Rs 353.05. The company's managing director & CEO, Sarada Kumar Hota resigned yesterday, 27 June 2019, consequent to his appointment as the managing director of National Housing Bank.
Shares of most public sector oil marketing companies (PSU OMCs) rose as Brent crude oil price decreased. Bharat Petroleum Corporation (up 0.37%), Hindustan Petroleum Corporation (up 0.28%) and Indian Oil Corporation (up 0.16%) edged higher.
Lower crude oil prices could decrease under-recoveries of public sector oil marketing companies (PSU OMCs) on domestic sale of LPG and kerosene at controlled prices. The government has already freed pricing of petrol and diesel.
In the commodities market, Brent crude for August 2019 settlement was down 30 cents at $66.25 a barrel. The contract rose 6 cents or 0.09% to settle at $66.55 a barrel in the previous trading session, with US President Donald Trump and Chinese President Xi Jinping set to meet at the G-20 summit in Osaka, today, 28 June 2019.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 68.9700, compared with its close of 69.0750 during the previous trading session.
The yield on 10-year benchmark federal paper fell to 6.882% at 14:20 IST compared with 6.897% at close in the previous trading session.
MCX Gold futures for 5 August 2019 settlement were up 0.33% at Rs 34,287.
Overseas, most European stocks were trading higher while almost all Asian stocks ended lower on Friday as investors watched for developments from the G-20 summit in Osaka, Japan.
In US, the S&P 500 halted a four-day slump but the Dow marked its longest skid since March as investors awaited U.S.-China trade talks between President Donald Trump and China's President Xi Jinping during the G-20 meeting in Japan that begins Friday. A tariff cease-fire between Beijing and Washington would avert the next round of tariffs on additional $300 billion worth of Chinese imports.
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