Volatility rose in mid-morning trade as the key benchmark indices once again regained positive zone. At 11:24 IST, the barometer index, the S&P BSE Sensex, was up 24.67 points or 0.07% at 35,538.38. The Nifty 50 index was up 2.60 points or 0.02% at 10,674.85. IT stocks declined.
Domestic stocks nudged higher in early trade as buying demand resumed in index pivotals after a two-day slide. Stocks reversed initial gains to sink in negative zone in morning trade.
The S&P BSE Mid-Cap index was up 0.16%. The S&P BSE Small-Cap index was off 0.16%.
The market breadth, indicating the overall health of the market, was negative. On the BSE, 1003 shares rose and 1113 shares fell. A total of 118 shares were unchanged.
IT stocks declined. TCS (down 2.22%), Infosys (down 1.8%), Wipro (down 0.43%), HCL Technologies (down 1.42%), Oracle Financial Services Software (down 0.64%), Tech Mahindra (down 1.67%), MindTree (down 3.04%), Hexaware Technologies (down 3.02%) and Mphasis (down 2.48%) declined.
Va Tech Wabag rose 2.31% to Rs 261.50 after Norges Bank acquired 3.31 lakh shares, or 0.61% equity, at Rs 259.53 each via bulk deal on NSE yesterday, 3 January 2019. Norges Bank Investment Management is the asset management unit of the Norwegian central bank (Norges Bank). It manages the Government Pension Fund Global, often referred to as the Norwegian oil fund, and some of Norges Bank's foreign exchange reserves.
Overseas, Asian stocks were mixed after a technology-led sell-off on Wall Street. US stocks declined yesterday, 3 January 2019 after a factory gauge dropped the most in a decade and Apple cut its sales outlook.
Apple slashed its quarterly revenue forecast for the first time in more than 15 years Wednesday evening, in a move that the iPhone maker's chief executive, Tim Cook, said was prompted by signs of weakness in the world's second-largest economy China.
On the data front, the Institute for Supply Management's manufacturing index fell to 54.1% in December, down from 59.3% the month before.
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