Key barometers sharply pared gains in afternoon trade as profit booking emerged at higher levels. At 13:24 IST, the barometer index, the S&P BSE Sensex, was up 21.74 points or 0.06% at 35,492.09. The Nifty 50 index was up 3.90 points or 0.04% at 10,766.35.
Domestic stocks cut initial losses triggered by negative Asian stocks. Volatility ruled the roost in morning trade as the key benchmark indices trimmed almost entire intraday gains after staging a pullback from lower levels. Key benchmark indices extended gains and hit intraday high in mid-morning trade.
Broader market declined. The S&P BSE Mid-Cap index was down 0.21%. The S&P BSE Small-Cap index was down 0.51%. Both these indices underperformed the Sensex.
The market breadth, indicating the overall health of the market, was weak. On the BSE, 872 shares rose and 1547 shares fell. A total of 138 shares were unchanged.
Coal India (up 2.05%), Bharti Airtel (up 1.71%), HDFC (up 1.14%), ITC (up 1.12%), TCS (up 1.12%) and IndusInd Bank (up 1.02%), were the major Sensex gainers.
Tata Motors (down 3.81%), Tata Steel (down 1.77%), Reliance Industries (down 1.52%), ICICI Bank (down 1.09%), Power Grid Corporation of India (down 0.64%) and Hero MotoCorp (down 0.53%), were the major Sensex losers.
Overseas, European stocks were trading higher, rebounding after trade concerns caused a sharp sell-off for global markets in the previous session.
Asian markets were mixed as moves by the US to gain an upper hand on trade with China weighed on the technology sector. As per reports, the Trump administration plans to limit exports of some high-tech products to China, and also limit investment in technology firms by companies with substantial Chinese ownership.
US stocks closed sharply lower yesterday, 25 June 2018 as President Donald Trump's threats of more protectionism against major partners were met with Chinese and European vows of retaliation.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
