Key indices reversed gains in morning trade. At 10:20 IST, the barometer index, the S&P BSE Sensex, advanced 5.75 points or 0.03% at 33,486.83. The Nifty 50 index declined 7.45 points or 0.07% at 10,319.45. Profit booking emerged after previous four-day of gains in indices.
The market had opened higher on firm Asian stocks. However, stocks soon pared gains and slipped into the red.
The S&P BSE Mid-Cap index declined 0.46%. The S&P BSE Small-Cap index lost 0.04%. Both these indices underperformed the Sensex.
The breadth, indicating the overall health of the market, turned negative from positive. On BSE, 1,134 shares fell and 1,023 shares rose. A total of 114 shares were unchanged.
Realty stocks rose for the fifth straight day. DLF (up 0.94%), D B Realty (up 0.97%), Sobha (up 1.72%), Indiabulls Real Estate (up 1.57%), Unitech (up 1.18%), NBCC (up 0.2%), Godrej Properties (up 1.4%), Housing Development & Infrastructure (HDIL) (up 1.28%), and Oberoi Realty (up 1.51%) edged higher.
Most telecom stocks also gained. Bharti Airtel (up 0.09%), Reliance Communications (up 5.2%), MTNL (up 0.23%) and Idea Cellular (up 0.05%) gained. Tata Teleservices (Maharashtra) shed 4.93%.
Shares of Bharti Infratel fell 0.83%. Bharti Infratel is a provider of tower and related infrastructure and is a unit of Bharti Airtel.
Talbros Automotive Components surged 8.1% after consolidated net profit surged 129.8% to Rs 6.94 crore on 25.98% rise in net sales to Rs 100.80 crore in Q2 September 2017 over Q2 September 2016. The result was announced after market hours yesterday, 21 November 2017.
Garden Silk Mills lost 1.33% after the company reported net loss of Rs 37.64 crore in Q2 September 2017, higher than net loss of Rs 16.89 crore in Q2 September 2016. The result was announced after market hours yesterday, 21 November 2017. Garden Silk Mills' net sales rose 12.41% to Rs 708.46 crore in Q2 September 2017 over Q2 September 2016.
NCC rose 2.74% after the company said its consortium with BGR Mining & Infra has received mine development contract from NTPC. The announcement was made after market hours yesterday, 21 November 2017.
NCC announced that the consortium formed between the company and BCR Infra has been awarded the project relating to "mine development and operation of Talaipalli coal block" (MDO project) by NTPC. A special purpose vehicle to be formed between NCC and BCR Mining & Infra with a sharing ratio of 51:49 will execute the project. The coal production from this coal block as per the coal mines development and production agreement being entered into in this regard is expected to commence in the financial year 2019-2020.
Overseas, Asian shares joined a global rally as strong world growth and rising corporate profits lured hordes of investors into equities. US stock-market indexes ended at records and near session highs yesterday, 21 November 2017, finding support on another round of strong earnings, with technology shares leading the way. The Chicago Fed national activity index rose to 0.65 in October from 0.36 in September. Sales of previously-owned homes jumped to a seasonally adjusted annual pace of 5.48 million in October.
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