Key equity benchmarks pared losses after hitting fresh intraday low in afternoon trade. At 13:30 IST, the barometer index, the S&P BSE Sensex fell 179.85 points or 0.44% at 40,622.32. The Nifty 50 index fell 69.95 points or 0.58% at 11,978.25.
In the broader market, the S&P BSE Mid-Cap index was down 0.97%. The S&P BSE Small-Cap index fell 0.80%.
The market breadth, indicating the overall health of the market, was weak. On the BSE, shares 740 rose and 1,500 shares fell. A total of 194 shares were unchanged.
Top Trends:
Bajaj Auto (up 2.30%), TCS (up 1.30%), Titan Company (up 0.87%), Hero MotoCorp (up 0.71%) and Infosys (up 0.55%) advanced.
Bharti Infratel (down 9.36%), Yes Bank (down 4.84%), Tata Steel (down 4.56%), Adani Ports & Special Economic Zones (down 3.88%) and Zee Entertainment Enterprises (down 3.79%) declined.
Stocks in Spotlight:
Tata Motors fell 1.68% to Rs 158.30 after announcing that the company has bagged an order to supply 2,300 buses for public transportation to State Transport Undertakings. The company aims to deliver all orders by February 2020.
Maruti Suzuki India was down by 0.14% at Rs 7,127.25 after the car major announced a price hike across various models effective from January 2020.
JSW Steel was trading 5.05% lower at Rs 254.85. JSW Steel announced that the company during the months of October and November supplied more than 30,000 metric tonnes high quality JSW Neosteel TMT Rebars towards construction of Metro projects in various Indian cities. This takes the company's overall supplies of JSW Neosteel TMT Rebards for metro construction projects to more than 85,000 metric tonnes so far in this fiscal.
ONGC declined 1.09% to Rs 126.75. Media reports suggest that the oil exploratory company plans to invest Rs 1.6 lakh crore and Oil India to put in another Rs 1,758 crore for the domestic exploration and production in the next five years, as per Oil Minister Dharmendra Pradhan's written statement in the Parliament.
Overseas:
Overseas, European markets were mixed while Asian markets were trading lower after US president Donald Trump decided to reimpose tariffs on imports of steel and aluminium from Brazil and Argentina.
In US, stock indexes fell on Monday, after U S manufacturing data showed a continued contraction in November and fresh trade jitters put investors on the defensive.
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