Key indices were trading lower on selling in select index stocks. At 9:20 IST, the barometer index, the S&P BSE Sensex, was down 49.65 points or 0.12% at 41,273.35. The Nifty 50 index was down 21.20 points or 0.17% at 12,104.70.
The S&P BSE Mid-Cap index was up 0.23%. The S&P BSE Small-Cap index was up 0.21%. Both these indices outperformed the BSE Sensex.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 552 shares rose and 395 shares fell. A total of 51 shares were unchanged.
Local stock markets will remain closed tomorrow, 21 February 2020 on account of Mahashivratri.
Stocks in news:
Sterlite Technologies jumped 4.77%. Sterlite Technologies said the company has added new orders of Rs 1,500 crore. These orders have ranged from continued business development in its core areas of optical connectivity solutions and network services to emerging areas such as software virtualization.
Infibeam Avenues rose 3.27% Infibeam Avenues said that it has made inroads into United States of America, the world's second largest digital payments market by revenue. The company will offer its vast array of digital payment solutions to web and mobile based small and medium enterprises (SME) largely operating in the online retail, education, hospitality and travel and tourism industry, apart from other industry verticals under the brand CCAvenue.
Vodafone Idea advanced 7.64%. Vodafone Idea informed that Brickwork Ratings, has downgraded its rating on Non-Convertible Debentures aggregating to Rs 2,500 crore from 'BWR BBB-' to 'BWR BB-'.
GAIL (India) fell 0.38%. GAIL (India) said the amount of Rs 1,83,076 crore that it has to pay as AGR dues and penalties derived in provisional assessment orders by the department of telecommunications (DoT) is legally not tenable. The company also said it has filed a plea at the Supreme Court to seek clarification on the orders passed.
Asian Paints shed 0.74%. Asian Paints said the meeting of board of directors of the company will be held on Tuesday, 25 February, 2020, to consider and approve payment of second interim dividend, if any, for the financial year ending 31 March, 2020. The record date for payment of second interim dividend, if declared, will be Wednesday, 4 March, 2020.
Sunteck Realty was up 1.66%. Sunteck Realty said the response for Sunteck MaxXWorld at Naigaon continues to remain encouraging with number of units sold reaching a mark of more than 1800 apartments.
Global Markets:
Overseas, most Asian stocks were trading higher on Thursday supported by a fall in coronavirus cases and expectations of more Chinese stimulus to offset the economic impact of the epidemic.
In US, the S&P 500 and Nasdaq finished at all-time highs on Wednesday as investors were encouraged by comments from the Federal Reserve and measures China says it has taken to help coronavirus-stricken businesses.
Minutes from the rate-setting Federal Open Market Committee's January meeting showed that Fed officials believe the US economy appeared stronger in late January than they had been expecting.
Chinese officials have said the rate of new cases has begun to ebb, but the World Health Organization has recommended caution.
Investors also appeared heartened by comments from China's Ministry of Industry and Information Technology, which reportedly said Beijing would help companies to identify weak links in supply chains.
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