After witnessing a lower opening, key benchmark indices traded with modest losses in morning trade. At 10:17 IST, the barometer index, the S&P BSE Sensex lost 109.80 points or 0.34% at 32,499.36. The Nifty 50 index fell 36.80 points or 0.36% at 10,197.65. Market sentiment was subdued ahead of a long Diwali holiday weekend.
Stock markets remain closed tomorrow, 19 October 2017 on account of Diwali Laxmi Pujan and again on Friday, 20 October 2017 on account of Diwali Balipratipada. However, markets will remain open for Muhurat trading tomorrow, 19 October 2017. The Muhurat trading session on account of Diwali Laxmi Pujan will be between 18:30 IST to 19:30 IST tomorrow, 19 October 2017.
Among secondary indices, the S&P BSE Mid-Cap index was unchanged. The S&P BSE Small-Cap index advanced 0.11%, underperforming the Sensex.
The breadth, indicating the overall health of the market, was positive. On the BSE, 1,028 shares rose and 977 shares declined. A total of 78 shares were unchanged.
Realty stocks were mixed. Indiabulls Real Estate (up 1.23%), Sobha (up 1.16%), DLF (up 0.87%), HDIL (up 0.45%) and Unitech (up 0.17%) edged higher. D B Realty (down 1.1%), Oberoi Realty (down 0.66%), Prestige Estates Projects (down 0.49%) and Godrej Properties (down 0.02%) edged lower.
Auto stocks also witnessed a mixed trend. Bajaj Auto (down 0.83%), Eicher Motors (down 0.72%), Maruti Suzuki India (down 0.41%) and Ashok Leyland (down 0.31%) edged lower. Hero MotoCorp (up 0.32%), Tata Motors (up 0.17%) and TVS Motor Company (up 0.57%) edged higher.
Mahindra & Mahindra (M&M) was up 0.09% at Rs 1,374.70. The company said that the red herring prospectus in relation to the initial public offering (IPO) filed by the company's subsidiary Mahindra Logistics (MLL) has been approved by the Registrar of Companies, Mumbai on 17 October 2017. The offer will be open for subscription to public on 31 October 2017 and closes on 2 November 2017. The announcement was made after market hours yesterday, 17 October 2017.
Tata Sponge Iron rose 0.96% at Rs 942.95 after consolidated net profit surged 71.98% to Rs 27.62 crore on 19.39% rise in total income to Rs 176.66 crore in Q2 September 2017 over Q2 September 2016. The result was announced after market hours yesterday, 17 October 2017.
Overseas, Asian stocks traded mixed as investors in the region looked to China's Party Congress for signs on future policy direction in the world's second-largest economy. The 19th National Congress of the Communist Party of China commenced in Beijing today, 18 October 2017. In his opening remarks, Chinese President Xi Jinping was quoted as saying that his nation's prospects as bright but made a rare acknowledgement of severe economic challenges. Among the grave issues Xi said were insufficiently addressed are a widening income gap and problems in employment, education, medical care and other areas, reports suggested.
US stocks closed mostly higher yesterday, 17 October 2017. The Dow Jones industrial average rose and broke above 23,000 for the first time on an intraday basis.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
