A bout of volatility was witnessed as key benchmark indices swung between positive and negative terrain in mid-morning trade. At 11:16 IST, the barometer index, the S&P BSE Sensex, was up 7.03 points or 0.03% at 26,819.81. The Nifty was down 1.35 points or 0.02% at 8,218.55.
The Sensex rose 74.51 points, or 0.28% at the day's high of 26,887.29 in morning trade. The index fell 39.84 points, or 0.15% at the day's low of 26,772.94 in early trade. The Nifty rose 18.45 points, or 0.22% at the day's high of 8,238.35 in morning trade. The index fell 11.75 points, or 0.14% at the day's low of 8,208.15 in early trade.
The market breadth, indicating the overall health of the market, turned negative from positive in mid-morning trade. On BSE, 1,085 shares fell and 1,041 shares rose. A total of 141 shares were unchanged. The BSE Mid-Cap index was currently up 0.07%, outperforming the Sensex. The BSE Small-Cap index was currently up 0.02%, underperforming the Sensex.
In the overseas market, most Asia markets were trading higher today, 22 June 2016. US stocks closed slightly higher yesterday, 21 June 2016, after trading within a narrow range after Federal Reserve Chairwoman Janet Yellen cautioned that the UK leaving the European Union (EU) posed a risk while new polls showed support for the "stay camp" growing. In her testimony to the Senate Banking Committee, Yellen said a victory for the "leave camp" in this week's UK referendum on membership in the EU would pose a significant risk to the US economy and global financial market stability, and reiterated the cautious approach to raising interest rates that the Federal Open Market Committee signaled last week when it stood pat on US interest rates.
The key event in the UK and Europe this week is the Brexit referendum tomorrow, 23 June 2016, where British voters will decide whether the country should remain a member of the EU or leave it.
Telecom stocks edged lower. Tata Teleservices (Maharashtra) (down 4.96%), MTNL (down 1.42%), Reliance Communications (down 1.24%), Idea Cellular (down 0.44%) and Bharti Airtel (down 0.06%), edged lower.
Telecom tower infrastructure provider Bharti Infratel was down 1.80% to Rs 341.60.
Aviation stocks edged lower. Jet Airways (India) (down 1.26%), InterGlobe Aviation (down 1.22%) and SpiceJet (down 0.97%), edged lower.
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