Key benchmark indices traded near the flat line in early afternoon trade. At 12:18 IST, the barometer index, the S&P BSE Sensex, was down 11.88 points or 0.04% at 27,235.28. The Nifty 50 index was down 6.95 points or 0.08% at 8,400.25. Earlier, the two key indices hovered for a while in positive terrain amid initial volatility before slipping into the negative zone in morning trade.
The BSE Mid-Cap index was up 0.04%. The BSE Small-Cap index was up 0.08%. Both these indices outperformed the Sensex.
Overseas, Asian equities were mixed. Major US stock indices registered modest losses yesterday, 12 January 2017, after President-elect Donald Trump disappointed investors during his first news conference since July, while Wall Street geared up for the start of earnings season.
Closer home, the market breadth, indicating the overall health of the market, was negative. On the BSE, 1,262 shares declined and 1,160 shares rose. A total of 161 shares were unchanged.
Realty stocks declined. Indiabulls Real Estate (down 1.61%), Prestige Estates Projects (down 0.6%), Godrej Properties (down 0.49%), Unitech (down 0.44%), D B Realty (down 0.39%) and Housing Development & Infrastructure (down 0.24%) edged lower. Sobha (up 1.08%), Oberoi Realty (up 0.68%) and DLF (up 0.2%) edged higher.
Auto stocks also edged lower. Tata Motors (down 1.61%), Maruti Suzuki India (down 0.83%), TVS Motor Company (down 0.71%), Bajaj Auto (down 0.36%) and Eicher Motors (down 0.09%) declined. Ashok Leyland (up 0.65%) and Mahindra & Mahindra (up 0.56%) edged higher.
Hero MotoCorp was down 0.75%. The company announced that it has unveiled the New Glamour - its first-ever global launch of a new product outside of India. This global launch of the New Glamour coincides with the commencement of Hero's operations in Argentina. The announcement was made during market hours today, 13 January 2017.
Yuken India rose 2.45% at Rs 555, with the stock extending recent strong gains. Shares of Yuken India jumped 32.14% in five sessions to its current ruling price from a close of Rs 420 on 6 January 2017. The market buzz is that a Mumbai-based investor and BSE member, who is frequent on business channels, has been buying the stock for the last few days.
On the macro front, India's industrial production surged at 13-months high pace of 5.7% in November 2016 over November 2015, snapping 1.8% fall recorded in October 2016. The manufacturing sector's production jumped 5.5%, while mining output rebounded 3.9% after three months of decline, contributing to the increase in industrial production. The data was released by the government after market hours yesterday, 12 January 2017.
Meanwhile, the all-India monthly inflation based on the consumer price index (CPI) dipped to 25-months low of 3.41% in December 2016, compared with 3.63% in November 2016. The data was released by the government after market hours yesterday, 12 January 2017.
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