Key benchmark indices hovered in positive zone in early afternoon trade. At 12:26 IST, the barometer index, the S&P BSE Sensex, was up 64.55 points or 0.18% at 35,578.26. The Nifty 50 index was up 21.10 points or 0.2% at 10,693.35. Realty stocks rose.
On the macro front, India's service economy expanded further at the end of 2018, as strengthening demand continued to translate into new business gains, data released today showed. The Nikkei/IHS Markit Services Purchasing Managers' Index declined to 53.2 in December from 53.7 in November.
Domestic stocks nudged higher in early trade as buying demand resumed in index pivotals after a two-day slide. Stocks reversed initial gains to sink in negative zone in morning trade. Volatility rose in mid-morning trade as the key benchmark indices once again regained positive zone.
The S&P BSE Mid-Cap index was up 0.38%. The S&P BSE Small-Cap index was off 0.08%.
The market breadth, indicating the overall health of the market, was positive. The breadth alternately swung between positive and negative zone so far during the day. On the BSE, 1152 shares rose and 1118 shares fell. A total of 139 shares were unchanged.
Realty stocks rose. DLF (up 1.56%), Indiabulls Real Estate (up 0.17%), Housing Development and Infrastructure (up 0.98%), Godrej Properties (up 1.53%), Prestige Estates Projects (up 1.07%) and Oberoi Realty (up 2.39%) rose. D B Realty (down 2.08%) and Sobha (down 3.87%) fell.
Overseas, Asian stocks were mixed after a technology-led sell-off on Wall Street. US stocks declined yesterday, 3 January 2019 after a factory gauge dropped the most in a decade and Apple cut its sales outlook.
Apple slashed its quarterly revenue forecast for the first time in more than 15 years Wednesday evening, in a move that the iPhone maker's chief executive, Tim Cook, said was prompted by signs of weakness in the world's second-largest economy China.
On the data front, the Institute for Supply Management's manufacturing index fell to 54.1% in December, down from 59.3% the month before.
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