Market ended a lackluster trading session on a flat note. The barometer index, the S&P BSE Sensex lost 2.57 points or 0.01% at 31,143.23, as per the provisional closing data. The Nifty 50 index declined 6.80 points or 0.07% at 9,614.45, as per the provisional closing data.
The Sensex lost 83.78 points or 0.27% at the day's low of 31,062.02 in afternoon trade, its lowest level since 29 May 2017. It rose 67.32 points or 0.21% at the day's high of 31,213.12 in mid-morning trade.
The Nifty lost 31.35 points or 0.33% at the day's low of 9,589.90 in afternoon trade, its lowest level since 30 May 2017. It rose 13.40 points or 0.13% at the day's high of 9,634.65 in mid-morning trade.
Key indices traded on a lackluster note throughout the trading session with their movement restricted to a narrow range around the flat line.
Among other indices, the S&P BSE Mid-Cap index provisionally rose 0.48%. The S&P BSE Small-Cap index provisionally advanced 1.02%. Both these indices outperformed the Sensex.
The breadth, indicating the overall health of the market, was positive. On the BSE, 1,410 shares rose and 1,266 shares declined. A total of 182 shares were unchanged.
Realty stocks were mostly higher. Prestige Estates Projects (up 2.89%), HDIL (up 1.63%), D B Realty (up 1.34%), Sobha (up 1.05%), Unitech (up 1.38%) and Oberoi Realty (up 0.36%) advanced. DLF (down 1.42%), Godrej Properties (down 0.2%) and Indiabulls Real Estate (down 0.42%) declined.
Eicher Motors rose 1.18% at Rs 28,767 after the company reported a 25% growth in its motorcycles sales at 60,696 units in May 2017 over May 2016. Exports surged 49% to 2,049 units in May 2017 over May 2016. The announcement was made during market hours today, 1 June 2017.
Separately, Eicher Motors said that the total sales of VE Commercial Vehicles, an unlisted subsidiary of the company declined 20.75% to 4,573 units in May 2017 over May 2016. The announcement was made during market hours today, 1 June 2017.
Mahindra & Mahindra (M&M) advanced 0.61% at Rs 1,425 after the company's total tractor sales rose 11% to 25,599 units in May 2017 over May 2016. Domestic sales grew by 11% to 24,575 units in May 2017 over May 2016. Exports rose 18% to 1,024 units.
The company's total auto sales rose 3% to 41,895 units in May 2017 over May 2016. Total domestic sales grew by 11% to 40,602 units in May 2017 over May 2016. Exports fell 68% to 1,293 units. The announcement was made during market hours today, 1 June 2017.
Meanwhile, data released by Markit Economics during market hours today, 1 June 2017 showed that Indian manufacturing sector stayed in expansion mode in May as a further upturn in new business supported output growth. That said, the headline Nikkei India Manufacturing Purchasing Managers' Index (PMI) dropped to a 3-month low of 51.6 in May from 52.5 in April.
India's Gross Domestic Product (GDP) rose at moderated pace of 6.1% in Q4 March 2017, which is the lowest pace of growth in last nine quarters. The GDP growth decelerated sharply from 7% growth recorded in the preceding last quarter and 8.7% surge posted in the corresponding quarter last year. The data was released by the government after market hours yesterday, 31 May 2017.
The Eight core infrastructure industries have showed 2.5% growth in output for April 2017 over April 2016. Its cumulative output growth had stood at 4.8% in FY 2017. The Base Year of the Index of Eight Core Industries has been revised from the year 2004-05 to 2011-12 from April 2017. The shift is in line with the new base year of Index of Industrial Production (IIP). The data was released by the government after market hours yesterday, 31 May 2017.
Overseas, European markets moved higher as investors eyed oil prices and continued to monitor politics in the region with U.K. elections just a week away.
Asian stocks witnessed mixed trend after weaker-than-expected Caixin manufacturing PMI data. Caixin PMI data from China for the month of May came in at 49.6.
US equities closed lower yesterday, 31 May 2017, as a drop in the financial sector pressured stocks.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
