Stocks extended losses and hit fresh intraday low in afternoon trade. At 13:18 IST, the barometer index, the S&P BSE Sensex, was down 94.84 points or 0.24% at 38,801.79. The Nifty 50 index was down 31.25 points or 0.27% at 11,707.25. Traders booked profits after recent gains, which were backed by favourable global cues.
Broader market depicted firmness. Among secondary barometers, the BSE Mid-Cap index was up 0.63%. The BSE Small-Cap index was up 0.26%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was positive. On BSE, 1263 shares rose and 1290 shares fell. A total of 148 shares were unchanged.
SBI (up 1.72%), ONGC (up 1.58%), Tata Steel (up 1.21%), M&M (up 0.98%) and Tata Motors (up 0.79%) edged higher from the Sensex pack.
Coal India (down 2.21%), Reliance Industries (down 1.47%), IndusInd Bank (down 1.3%), Infosys (down 0.88%) and Asian Paints (down 0.8%) edged lower from the Sensex pack.
IT major Wipro rose 0.02%. 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 rose 0.33%. 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, European shares were steady in early trade. Most Asian shares were trading 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.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
