Benchmarks trade with modest losses

Key equity indices were trading with modest losses in afternoon trade. At 13:22 IST, the barometer index, the S&P BSE Sensex, was down 97.82 points or 0.28% at 35,139.86. The Nifty 50 index was down 19.80 points or 0.19% at 10,578.60.

Key benchmark indices edged lower in early trade on negative Asian stocks. Stocks cut losses in morning trade. Indices extended intraday recovery with the Sensex and the Nifty regaining the positive zone in mid-morning trade. Key equity indices reversed trend and were trading with modest losses in afternoon trade.

The S&P BSE Mid-Cap index was up 0.51%. The S&P BSE Small-Cap index was up 0.25%. Both these indices outperformed the Sensex.

 

The market breadth, indicating the overall health of the market, was positive. On the BSE, 1183 shares rose and 1159 shares fell. A total of 156 shares were unchanged.

Infosys (down 2.26%), Bharti Airtel (down 2.16%), Wipro (down 1.64%), TCS (down 1.3%), Tata Steel (down 1.2%) and ITC (down 0.93%), were the major Sensex losers.

Asian Paints (up 3.85%), Yes Bank (up 3.80%), Sun Pharmaceutical Industries (up 2.91%), Adani Ports & Special Economic Zone (up 2.05%), Hero MotoCorp (up 1.97%) and Maruti Suzuki India (up 1.81%), were the major Sensex gainers.

Overseas, Asian stocks were trading lower on lingering worries over US-China trade relations. On the data front, China's consumer inflation remained at the second-highest level so far this year, buoyed by an acceleration in non-food prices, official data showed Friday. The consumer price index rose 2.5% in October from a year earlier, unchanged from the growth in September, the National Bureau of Statistics said.

US stocks closed mostly lower yesterday, 8 November 2018 as the Federal Reserve kept interest rates unchanged in an unanimous decision and signaled that it would continue to tighten monetary policy at a gradual pace. As expected, the Fed kept its benchmark target for rates unchanged in a 2% to 2.25% range.

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