Volatility struck bourses in early afternoon trade as the key benchmark indices erased intraday gains and were trading a tad above the flat line. At 12:21 IST, the barometer index, the S&P BSE Sensex, was up 5.57 points or 0.02% at 36,326.86. The Nifty 50 index was up 4.15 points or 0.04% at 10,894.45. Realty stocks saw mixed trend.
Local stocks nudged higher in early trade on positive Asian stocks. Key indices hovered in positive zone in morning trade. Stocks traded in a small range in mid-morning trade.
The S&P BSE Mid-Cap index was off 0.18%. The S&P BSE Small-Cap index was off 0.11%.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 1026 shares rose and 1211 shares fell. A total of 154 shares were unchanged.
Realty stocks saw mixed trend. DLF (up 0.14%), Indiabulls Real Estate (up 0.23%), Sobha (up 6.08%) and Oberoi Realty (up 1.27%) rose. Housing Development and Infrastructure (down 1.78%), D B Realty (down 0.54%), Godrej Properties (down 0.98%) and Prestige Estates Projects (down 1.36%) fell.
Bank of India fell 1.52% to Rs 103.80. Bank of India said it will issue shares at Rs 105.75 per share in respect of preferential issue of equity shares amounting to Rs 10086 crore to the Government of India, as a part of the capital infusion plan. The announcement was made after market hours yesterday, 16 January 2019.
Mindtree gained 2.74%. Mindtree reported 7.3% fall in consolidated net profit to Rs 191.2 crore on 1.8% rise in revenue to Rs 1787.20 crore in Q3 December 2018 over Q2 September 2018. The announcement was made after market hours yesterday, 16 January 2019.
Overseas, Asian shares were trading higher on Thursday as upbeat bank earnings bolstered Wall Street. But a report that the US was investigating China's Huawei for allegedly stealing trade secrets from American companies limited gains.
In US, Wall Street's major indexes hit one-month highs on Wednesday as strong earnings from Bank of America Corp and Goldman Sachs Group Inc boosted investor sentiment. The Dow Jones Industrial Average rose 141.57 points, or 0.59%, to 24,207.16, the S&P 500 gained 5.8 points, or 0.22%, to 2,616.1 and the Nasdaq Composite added 10.86 points, or 0.15%, to 7,034.69.
Investors are watching the implications of a protracted, partial government shutdown, which has now stretched to a record 26th day. While markets have largely shrugged off the drama unfolding in Washington, economists warn that the longer the impasse lasts, the greater the effect on the economy will be.
In Europe, UK Prime Minister Theresa May's government survived a vote of no-confidence in parliament, a day after her proposed Brexit plan was overwhelmingly rejected by lawmakers. The defeat, 432 against compared with 202 in favor, was the largest margin of defeat by a sitting British government since the 1920s, and throws into doubt the country's plans to exit from the EU without disrupting global markets.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
