Indices off day's low

Domestic bourses cut losses in morning trade after an initial slide triggered by negative Asian stocks. At 10:18 IST, the barometer index, the S&P BSE Sensex, was down 101.85 points or 0.3% at 34,032.53. The Nifty 50 index was down 35.30 points or 0.34% at 10,209.95. The Sensex regained the psychological 34,000 level in morning trade after sliding below that level in opening trade.

Trading for the day began on a weak note as the key benchmark indices edged lower in early trade on negative Asian stocks. The Sensex dropped below the psychological 34,000 level in opening trade.

The S&P BSE Mid-Cap index was down 0.13%. The S&P BSE Small-Cap index was down 0.37%.

 

The market breadth, indicating the overall health of the market, was negative. On the BSE, 762 shares rose and 1134 shares fell. A total of 86 shares were unchanged.

Overseas, Asian stocks were trading lower as rising tensions over Saudi Arabia's diplomatic isolation and Brexit talks dampened investor sentiment. US stocks closed mostly lower yesterday, 22 October 2018, with the S&P 500 dropping for a fourth day in a row, as investors braced for a deluge of earnings against the backdrop of higher interest rates and concerns about global growth.

Risks still abound across global markets, from the continuing US-China trade showdown to Italian budget fears and President Donald Trump's unpredictable actions ahead of American midterm elections.

Back home, Asian Paints (down 4.24%), Wipro (down 2.78%), TCS (down 1.95%), ONGC (down 1.7%) and Infosys (down 1.57%) edged lower from the Sensex pack.

IndusInd Bank (up 2.85%), Tata Motors (up 2.26%), Yes Bank (up 1.73%), HDFC (up 1.7%) and Axis Bank (up 1.26%) edged higher from the Sensex pack.

Bharat Heavy Electricals rose 2.03% after the company said its board will meet on 25 October 2018 to consider the proposal for buyback of the fully paid-up equity shares. The announcement was made after market hours yesterday, 22 October 2018.

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