A divergent trend was witnessed in mid-morning trade as the barometer index, the S&P BSE Sensex, was trading with small losses while the Nifty 50 index was trading with small gains. At 11:23 IST, the barometer index, the S&P BSE Sensex, was down 7.05 points or 0.02% at 38,271.70. The Nifty 50 index was up 3.05 points or 0.03% at 11,554.80. Shares of index heavyweight Reliance Industries gained. Realty stocks fell.
Domestic stocks reversed intraday gains soon after a gap-up opening pushed the Sensex and the Nifty to record high. Stocks once again regained positive zone in morning trade.
The S&P BSE Mid-Cap index was up 0.39%. The S&P BSE Small-Cap index was up 0.25%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 1239 shares rose and 1082 shares fell. A total of 130 shares were unchanged.
Overseas, Asian stocks rose on optimism over trade talks between the United States and China. Immediate focus was on the lower-level trade talks due to start this week between the United States and China. However, this week will also see the imposition of 25% tariffs on $16 billion worth of Chinese imports, an action by the Trump administration that China has said it would retaliate against.
US stocks closed higher for a third session Monday as a pair of billion-dollar deals reaffirmed confidence that the US economy continues its steady expansion. Meanwhile, the minutes from the Federal Reserve's most recent meeting will be released later in the global day today, which could provide insight into the central bank's thinking in terms of policy changes.
Back home, index heavyweight Reliance Industries rose 1.01% to Rs 1,247.35
Realty stocks fell. DLF (down 3.1%), Indiabulls Real Estate (down 1.19%), Housing Development and Infrastructure (down 4.26%), D B Realty (down 0.32%), Unitech (down 1.62%), Prestige Estates Projects (down 0.06%) and Oberoi Realty (down 0.28%) declined. Sobha (up 0.49%) and Godrej Properties (up 0.44%) rose.
NR Agarwal Industries fell 1.44% after the company said that the operations of the company's Unit - I located at Vapi, Dist. Valsad shall be temporarily shut down for a period of 15 days with effect from 27 August 2018 for the purpose of annual maintenance and technological upgradation. The announcement was made after market hours yesterday, 20 August 2018.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
