Key equity indices were trading near day's low in afternoon trade. At 13:20 IST, the barometer index, the S&P BSE Sensex, was down 301.88 points or 0.84% at 35,574.34. The Nifty 50 index was down 96.95 points or 0.90% at 10,649.10. Sentiment was impacted by negative Asian stocks.
Domestic stocks edged lower in early trade on negative Asian stocks. Key indices extended fall in morning trade. Fresh selling in index pivotals dragged the key indices lower in mid-morning trade.
The S&P BSE Mid-Cap index was down 1.57%. The S&P BSE Small-Cap index was down 0.95%. Both these indices underperformed the Sensex.
The market breadth, indicating the overall health of the market, was weak. On the BSE, 736 shares rose and 1588 shares fell. A total of 121 shares were unchanged.
Sun Pharmaceutical Industries (down 4.21%), Vedanta (down 3.72%), Tata Steel (down 3.69%), Bajaj Finance (down 3.11%), Hero MotoCorp (down 2.64%) and Yes Bank (down 2.31%), were the major Sensex losers.
Power Grid Corporation of India (up 3.80%), NTPC (up 3.52%), ONGC (up 2.01%), Larsen & Toubro (up 1.12%), Coal India (up 0.92%) and Reliance Industries (up 0.02%), were the major Sensex gainers.
Overseas, Asian stocks slipped on Friday as traders awaited the conclusion of U.S.-China talks in Beijing.
Traders are waiting for results of a meeting on Friday between the Trump administration's top two negotiators and Chinese President Xi Jinping in Beijing. There has been no decision to extend a March 1 US deadline for a deal, White House economic adviser Larry Kudlow reportedly said on Thursday.
U.S. stocks closed mostly lower Thursday as disappointment over weak retail sales overshadowed optimism over U.S.-China trade talks, but the Nasdaq eked out gains to rise for a fifth session in a row. U.S. retail sales fell by 1.2% in December, the largest single-month decline since 2009. The U.S. producer-price index fell by 0.1% in January.
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