Market traded with small losses in mid-morning trade. At 11:18 IST, the barometer index, the S&P BSE Sensex, was down 29.57 points or 0.11% at 26,489.50. The Nifty 50 index was currently down 10.10 points or 0.12% at 8,143.50. Trading was lacklustre in the absence of clear direction from Asian peers.
The Sensex lost 39.40 points or 0.14% at the day's low of 26,479.67 in morning trade. The index rose 75.48 points or 0.28% at the day's high of 26,594.55 in early trade. The Nifty lost 19.95 points or 0.24% at the day's low of 8,133.65 in morning trade. The index rose 25.10 points or 0.3% at the day's high of 8,178.70 in early trade.
The BSE Mid-Cap index was currently down 0.28%. The decline in this index was higher than the Sensex's decline in percentage terms. The BSE Small-Cap index was currently up 0.03%, outperforming the Sensex.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 1,084 shares rose and 1,040 shares declined. A total of 124 shares were unchanged.
Realty stocks declined. Prestige Estates Projects (down 1.61%), Indiabulls Real Estate (down 1.34%), Housing Development & Infrastructure (down 1.38%), Sobha (down 1.22%), DLF (down 0.98%) and D B Realty (down 0.5%) edged lower. Oberoi Realty (up 3.82%), Unitech (up 0.66%) and Godrej Properties (up 0.59%) edged higher.
IT stocks were mixed. HCL Technologies (down 1.33%), Wipro (down 0.9%) and Oracle Financial Services Software (down 0.67%) edged lower. Infosys (up 1.06%), TCS (up 0.48%) and Tech Mahindra (up 0.37%) edged higher.
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Jammu & Kashmir Bank fell 1.97% at Rs 59.60 after the bank reported net loss of Rs 602.40 crore in Q2 September 2016 compared with net profit of Rs 195.62 crore in Q2 September 2015. Total income fell 1.69% to Rs 1816.67 crore in Q2 September 2016 over Q2 September 2015. The result was announced after market hours yesterday, 15 December 2016.
The bank's gross non-performing assets (NPAs) stood at Rs 5682.96 crore as on 30 September 2016 as against Rs 4714.92 crore as on 30 June 2016 and Rs 3081.68 crore as on 30 September 2015.
The ratio of gross NPAs to gross advances stood at 11.33% as on 30 September 2016 as against 9.31% as on 30 June 2016 and 6.46% as on 30 September 2015.
The ratio of net NPAs to net advances stood at 6.81% as on 30 September 2016 as against 6.19% as on 30 June 2016 and 2.78% as on 30 September 2015.
The bank's provisions and contingencies (excluding tax provisions) surged 683.76% to Rs 992.08 crore in Q2 September 2016 over Q2 September 2015.
Overseas, Asian stocks witnessed a mixed trend.
A surge in banks and other financial stocks that stand to benefit from higher interest rates led US indexes to the edge of record territory yesterday, 15 December 2016.
The number of Americans applying for unemployment benefits fell last week, further evidence that the labor market remains steady as the Federal Reserve moves to raise interest rates. Initial jobless claims, a measure of layoffs across the US, fell 4,000 to a seasonally adjusted 254,000 in the week ended 10 December 2016, the Labor Department said yesterday, 15 December 2016.
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