Key equity indices settled lower as traders booked profits after recent gains. The barometer index, the S&P BSE Sensex, fell 173.70 points or 0.45% to 38,722.93, as per the provisional closing data. The Nifty 50 index fell 46.60 points or 0.40% to 11,691.90, as per the provisional closing data.
After a volatile opening, indices were almost flat in morning trade. Following some range bound trading, indices hit fresh intraday low in late trade as selling intensified. The Sensex rose 93.02 points, or 0.24% at the day's high of 38,989.65 in early trade. The index fell 217.06 points, or 0.56% at the day's low of 38,679.57 in late trade. The Nifty rose 14.70 points, or 0.13% at the day's high of 11,753.20 in early trade. The index fell 59.65 points, or 0.51% at the day's low of 11,678.85 in late trade.
Broader market depicted firmness. Among secondary barometers, the BSE Mid-Cap index rose 0.47%. The BSE Small-Cap index rose 0.05%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was negative. On BSE, 1294 shares rose and 1418 shares fell. A total of 164 shares were unchanged.
Coal India (down 2.8%), Reliance Industries (down 1.74%), Yes Bank (down 1.45%), IndusInd Bank (down 1.36%), Power Grid Corporation of India (down 1.35%) and Asian Paints (down 1.13%), were the major Sensex losers.
ONGC (up 1.80%), State Bank of India (up 1.61%), Tata Steel (up 0.71%), ITC (up 0.39%) and Mahindra & Mahindra (up 0.39%), were the major Sensex gainers.
IT major TCS rose 0.02%. The company announced during trading hours today, 29 August 2018, that its flagship product, TCS BaNCS was deployed by PostFinance, one of the five largest financial institutions in Switzerland. With a vision to become Switzerland's leading digital retail bank by 2020, PostFinance embarked on an ambitious program to replace its legacy core systems with a new platform that would help deliver a consistently positive customer experience and support future digital innovation.
IT major Wipro rose 0.08%. The company announced before market hours today, 29 August 2018, that it has been awarded a multi-year business process services engagement and chosen as a finance transformation partner by Falck. Headquartered in Denmark, Falck is a leading international supplier of ambulance services, employee health care and roadside assistance and is active in 35 countries, worldwide and has over 37,000 employees. As part of the contract, Wipro will help transform Falck's finance operations through its enterprise operations transformation model.
Telecom major Bharti Airtel fell 0.64%. Bharti Telemedia, a subsidiary of the company, has been granted the approval dated 28 August 2018 from the Ministry of Information and Broadcasting for transfer of its 15% stake to an affiliate of Warburg Pincus. The announcement was made after market hours yesterday, 28 August 2018.
Overseas, most European were trading higher, while most Asian settled higher. Traders were cautious ahead of a looming deadline on tariffs with China. In US, the S&P 500 and the Nasdaq on Tuesday finished at records for a third consecutive session after a measure of consumer confidence hit a nearly 18-year high. However, the market's gains were muted, with indexes closing off of intraday peaks. The Conference Board said its index of consumer confidence climbed to 133.4 this month from 127.9 in July.
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