Market hovered in negative zone despite paring some intraday losses in morning trade. At 10:22 IST, the barometer index, the S&P BSE Sensex, fell 71.17 points or 0.23% at 30,797.32. The Nifty 50 index declined 23.05 points or 0.17% at 9,487.50. Market sentiment was weak amid negative global cues.
The S&P BSE Mid-Cap index rose 0.09%, outperforming the Sensex. The S&P BSE Small-Cap index declined 0.13%. The decline in this index was lower than the Sensex's decline in percentage terms.
The breadth, indicating the overall health of the market, was negative. On the BSE, 1,049 shares declined and 904 shares rose. A total of 104 shares were unchanged.
Realty stocks declined. Indiabulls Real Estate (down 2.89%), HDIL (down 2.75%), Sobha (down 2.42%), DLF (down 2.37%), Unitech (down 1.64%), D B Realty (down 0.51%) and Godrej Properties (down 0.1%) edged lower. Prestige Estates Projects (up 1.58%) and Oberoi Realty (up 1.32%) edged higher.
Capital goods stocks were mixed. L&T (down 1.95%), BEML (down 1.39%), Bharat Electronics (down 0.75%) and Thermax (down 0.32%) declined. Suzlon Energy (up 3.32%), Bharat Heavy Electricals (up 0.88%), ABB India (up 0.64%), Siemens (up 0.16%) and Havells India (up 0.1%) edged higher.
Cadila Healthcare rose 0.94% after the company announced that it received final approval from the US drug regulator for Phentermine Hydrochloride Orally Disintegrating Tablets. The announcement was made during market hours today, 30 June 2017.
Cadila Healthcare said that it has received final approval from the United States Food & Drug Administration (USFDA) to market Phentermine Hydrochloride Orally Disintegrating Tablets in strengths of 15mg, 30 mg and 37.5 mg.
The drug is used together with diet and exercise to treat obesity (overweight) in people with risk factors such as high blood pressure, high cholesterol or diabetes and will be produced at the group's formulations manufacturing facility at Moraiya in Ahmedabad.
Meanwhile, the India Meteorological Department (IMD) in its weekly weather report yesterday, 29 June 2017 said that during the week from 22nd June to 28th June 2017, the all India actual rainfall stood at 48.6 mm as against normal rainfall of 51.1 mm, with a departure of minus 5%.
The all India cumulative seasonal rainfall from 1st June to 28th June 2017 stood at 147.8 mm as against normal rainfall of 148 mm, with a departure of 0%.
Overseas, Asian stocks declined despite marginal improvement in China's manufacturing activity as select tech shares around the region sold off.
In economic news, China's manufacturing activity accelerated more than expected in June, suggesting the world's second-largest economy continued to confound expectations for a slowdown. The official manufacturing PMI rose to 51.7 in June, from 51.2 in May. Levels above 50 indicate expansion, while levels below signal contraction.
US equities fell yesterday, 29 June 2017 as technology stocks' latest drop washed out strong gains from the big banks.
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