Key benchmark indices ended with small losses on negative global stocks. The barometer index, the S&P BSE Sensex, fell 32.83 points or 0.08% to settle at 38,690.10. The Nifty 50 index fell 15.10 points or 0.13% to settle at 11,676.80.
Trading was volatile as traders rolled over positions in the F&O segment from the August 2018 series to September 2018 series. The August 2018 F&O contracts expired today, 30 August 2018.
The Sensex fell 32.83 points or 0.08% to settle at 38,690.10. The index hit high of 38,819.06 and low of 38,581.83 during the day.
The Nifty 50 index fell 15.10 points or 0.13% to settle at 11,676.80. The index hit high of 11,698.80 and low of 11,639.70 during the day.
Broader market settled with decent gains. Among secondary barometers, the BSE Mid-Cap index rose 0.43%. The BSE Small-Cap index rose 0.27%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was positive. On BSE, 1459 shares rose and 1256 shares fell. A total of 163 shares were unchanged.
Among the sectoral indices on BSE, the S&P BSE FMCG index (up 1.11%), the S&P BSE Healthcare index (up 0.85%), the S&P BSE Metal index (up 0.78%) outperformed the Sensex. The S&P BSE Bankex (down 0.38%), the S&P BSE Auto index (down 0.33%), the S&P BSE Consumer Durables index (down 0.26%) underperformed the Sensex.
IndusInd Bank (down 1.62%), Maruti Suzuki India (down 1.62%), Reliance Industries (down 1.57%), Asian Paints (down 1.15%) and Yes Bank (down 1.12%), were the major Sensex losers.
Sun Pharmaceutical Industries (up 3.03%), ITC (up 2.08%), Bharti Airtel (up 2.07%), and NTPC (up 1.93%) and ICICI Bank (up 1.1%) were the major Sensex gainers.
Metal shares were in demand. Hindustan Copper (up 3.76%), Jindal Steel & Power (up 2.53%), Tata Steel (up 2.4%), Steel Authority of India (up 1.37%), National Aluminium Company (down 0.85%), Vedanta (up 0.83%), Hindalco Industries (up 1.35%) and NMDC (up 0.78%) edged higher. Hindustan Zinc (down 0.58%) and JSW Steel (down 0.44%) fell.
Reliance Infrastructure surged 5.54%. Reliance Infrastructure announced the successful completion of the sale of its 100% shareholding in Integrated Mumbai Power Distribution Business to Adani Transmission. The deal was announced in December 2017 with the signing of a definitive binding agreement between Reliance Infrastructure and Adani Transmission, and has now been completed with transfer of shares and receipt of sale consideration. The total transaction value is Rs 18800 crore.
Reliance Infrastructure has reduced debt liabilities by Rs 13800 crore from the deal proceeds. Regulatory Assets under Approval of Rs 5000 crore will flow entirely to Reliance Infrastructure making the company debt-free in 2019.
ITI jumped 19.81%. ITI received an advance work order (AWO) from BSNL for the operation and maintenance and sales and marketing of the passive infrastructure of 6945 BTS sites of BSNL's GSM network in UP East, UP West, Uttarkhand and Tamilnadu Circles. The AWO value (at provisional rates) is Rs 6633.56 crore inclusive of taxes. The order is for a period of 10 years. The announcement was made during market hours today, 30 August 2018.
Laurus Labs rose 0.16%. The company announced that it has received an approval from United States Food and Drug Administration (US FDA) for Metformin Hydrochloride Tablets USP 500mg, 850mg and 1000mg which are used for treatment of diabetes. The Product and API will be commercialized from the company's unit 2 located at APSEZ, Atchutapuram, Visakhapatnam, Andhra Pradesh. The announcement was made after market hours yesterday, 29 August 2018.
Greaves Cotton jumped 7.81%. The company's board of directors has approved the proposal of investment in Ampere Vehicles. The announcement was made after market hours yesterday, 29 August 2018.
Overseas, European stocks were lower as investors continued to monitor global trade talks and corporate earnings. Asian stocks gave up earlier gains and fell as concerns persist over the development of the Sino-US trade spat.
The US stock market extended gains Wednesday as the S&P 500 and the Nasdaq closed at a record for a fourth session, while the Dow finished at its highest since February. Investor sentiments were also boosted by the announcement that Canada had rejoined the North American Free Trade Agreement (NAFTA) talks, following the deal reached by the US and Mexico earlier this week.
On the US data front, an update to second-quarter gross domestic product (GDP) came in showing growth at a 4.2% annualized pace, which represented the fastest pace of expansion in almost four years.
Pending-home sales declined 0.7% in July, the National Association of Realtors said. NAR's index, which tracks real-estate transactions where a contract has been signed but the deal has not yet closed, fell to a reading of 106.2.
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