Sharp volatility was witnessed as key benchmark indices pared losses after hitting fresh intraday low in mid-afternoon trade. At 14:20 IST, the barometer index, the S&P BSE Sensex, was down 136.29 points or 0.38% at 36,025.35. The Nifty 50 index was down 32.45 points or 0.29% at 11,053.55. The Sensex regained the psychological 36,000-mark after falling below that level in afternoon trade. Weak global stocks caused profit booking after indices scaled record highs in the previous session.
Key indices opened almost flat and witnessed a bout of volatility near the flat line in early trade. Key indices pared losses in mid-afternoon trade after hitting fresh intraday low in afternoon trade.
The Sensex rose 85.38 points, or 0.24% at the day's high of 36,247.02 in early trade. The index fell 251.34 points, or 0.70% at the day's low of 35,910.30 in mid-afternoon trade, its lowest intraday level since 23 January 2018. The Nifty rose 9.60 points, or 0.09% at the day's high of 11,095.60 in early trade. The index fell 76.80 points, or 0.69% at the day's low of 11,009.20 in mid-afternoon trade, its lowest intraday level since 23 January 2018.
Among secondary barometers, the BSE Mid-Cap index was down 0.29%. The BSE Small-Cap index was down 0.34%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was negative. On BSE, 1,599 shares fell and 1,135 shares rose. A total of 161 shares were unchanged.
Realty shares were mixed. D B Realty (down 2.14%), Indiabulls Real Estate (down 2.03%), Oberoi Realty (down 1.83%), DLF (down 1.51%), Godrej Properties (down 1.32%), Mahindra Lifespace Developers (down 1.3%), Unitech (down 0.46%), Sunteck Realty (down 0.36%), Phoenix Mills (down 0.12%) and Omaxe (down 0.07%), edged lower. Anant Raj (up 0.07%), Housing Development and Infrastructure (HDIL) (up 0.08%), Prestige Estates Projects (up 0.32%), Parsvnath Developers (up 0.60%), Sobha (up 1.45%) and Peninsula Land (up 2.34%), edged higher.
Most power generation stocks declined. Jaiprakash Power Ventures (down 1.39%), Reliance Power (down 1.36%), Torrent Power (down 1.06%), NHPC (down 0.67%), CESC (down 0.66%), NTPC (down 0.49%) and Adani Power (down 0.27%), edged lower. Tata Power (up 0.05%), JSW Energy (up 0.28%) and Reliance Infrastructure (up 0.47%), edged higher. State-run Power Grid Corporation of India was down 0.13%. State-run Coal India was up 2.05%.
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Most Asian shares declined after stocks wobbled on Wall Street. US stocks closed mixed yesterday, 24 January 2018, as markets focused on a mix of corporate earnings, trade war concerns and the broad decline in the US currency. The Dow Jones Industrial Average rose 0.16%. The S&P 500 index shed 1.59 points, while the Nasdaq Composite Index fell 0.6%.
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