Market hovered in a small range in the negative zone in early afternoon trade. At 12:19 IST, the barometer index, the S&P BSE Sensex was down 35 points or 0.11% at 30,923.25. The Nifty 50 index declined 1.85 points or 0.02% at 9,509.55. The Sensex failed to hold the psychological 31,000 level which it briefly surpassed in early trade.
Market sentiment was lackluster amid weakness in Asian stocks and lower closing on the Wall Street as policy uncertainty heightened in US with the Senate Republicans forced to delay vote on a crucial healthcare bill due to lack of support.
The S&P BSE Mid-Cap index rose 0.34%. The S&P BSE Small-Cap index advanced 0.36%. Both these indices outperformed the Sensex.
The breadth, indicating the overall health of the market, was positive. On the BSE, 1,294 shares rose and 1,022 shares declined. A total of 147 shares were unchanged.
Realty stocks advanced. Unitech (up 10.43%), HDIL (up 3.7%), Indiabulls Real Estate (up 0.87%), Oberoi Realty (up 0.64%), Sobha (up 0.23%) and D B Realty (up 0.51%) edged higher.
Capital goods stocks were mixed. BEML (down 1.73%), Havells India (down 1.06%), Siemens (down 0.32%) and L&T (down 0.05%) edged lower. Bharat Heavy Electricals (up 1.23%), Bharat Electronics (up 0.75%), ABB India (up 0.54%) and Thermax (up 0.31%) edged higher.
ICICI Bank gained 1.61% after the bank said that the committee of executive directors of the bank approved the allotment of 21,470 senior, unsecured redeemable long term bonds in the nature of debentures aggregating Rs 2147 crore on private placement basis.
The notes were issued in two tranches-Rs 400 crore maturing in 7 years at a coupon of 7.42% per annum payable annually and Rs 1747 crore maturing in 10 years at a coupon of 7.47% per annum payable annually. The notes were issued at par. The announcement was made after market hours yesterday, 27 June 2017.
Steel Strips Wheels rose 0.98% after the company announced that it has bagged export order for supply of Steel wheels for EU Caravan & Canadian Winter market. This order covers supplies of about 15,500 units of wheels with total order value above $150,000 and would be dispatched by end of July 2017 from the company's Chennai plant.
This repeat order strengthens the company's position as a strong player in extremely competitive Caravan & Winter wheels market in EU and Canada, Steel Strips Wheels said. The announcement was made during trading hours today, 28 June 2017.
Overseas, Asian stocks edged lower after the softer lead from Wall Street, with the vote on a bill to replace Obamacare in the US delayed.
US equities closed lower yesterday, 27 June 2017 amid losses in large-cap technology stocks, while a Senate vote delay raised heightened policy uncertainty.
In US, the Republican Party's seven-year crusade to repeal the Affordable Care Act (ACA) is on the verge of collapse, after Senate leaders were forced to delay a vote on a healthcare bill. Republicans, who hold the Senate 52-48, must find at least 50 votes to pass the bill, under a budget rules process known as reconciliation that would require only a simple majority.
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