Key indices were trading lower triggered by negative Asian stocks. At 9:20 IST, the barometer index, the S&P BSE Sensex, was down 89.17 points or 0.21% at 41,468.83. The Nifty 50 index was down 25.50 points or 0.21% at 12,230.35.
The S&P BSE Mid-Cap index was up 0.03%. The S&P BSE Small-Cap index was up 0.13%. Both these indices outperformed the BSE Sensex.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 502 shares rose and 380 shares fell. A total of 42 shares were unchanged.
Among stocks, United Spirits was up 0.79%. United Spirits said CRISIL has revised its outlook on the long term bank facilities and non convertible debentures of United Spirits (USL) to 'Positive' from 'Stable' while reaffirmed the rating at 'CRISIL AA+'. The short term rating and commercial paper has been reaffirmed at 'CRISIL A1+'. The outlook revision reflects the expectation of improvement in USL's credit profile, commensurate with better cash accrual and leverage over the medium term.
Piramal Enterprises fell 0.11%. Piramal Enterprises said the Company approved the allotment of 16,000 secured, rated, unlisted, redeemable nonconvertible debentures each having a face value of Rs 10,00,000/-, aggregating to Rs 1,600 crore on private placement basis.
Chalet Hotels jumped 7.28%. Chalet Hotels (Chalet) said it has entered into five new agreements extending their collaboration with Marriott International Inc. Under the agreement, Chalet would build hotels & extend contracts across brands such as W, Westin & Marriott Executive Apartment in Hyderabad & Mumbai.
RBL Bank was down 0.52%. RBL Bank approved the issue and allotment of 19,835,610 Equity Shares of face value of Rs 10 each on preferential basis at a price of Rs 340.70 per Equity Share (including a premium of Rs 330.70 per Equity Share), aggregating to Rs 675.79 crore.
PTC India Financial services advanced 1.92%. PTC India Financial services (PFS) said it has received sanction of fresh long term loan of Rs 500 crore for a period of ten years at interest rate of 8.50% per annum for onward lending to infrastructure projects and other operational requirements.
NHPC was up 0.42%. NHPC said it has approved the proposal for raising of Debt upto Rs 2000 crore during FY 2019-20 through issuance of secured, redeemable, taxable, noncumulative, non-convertible taxable Corporate Bonds in one or more series/tranches on private placement basis and/or raising of Term loans I External Commercial Borrowings (ECB) in suitable tranches.
Overseas, Asian shares were trading lower on Tuesday echoing falls on Wall Street, as investors locked in gains made since the US and China reached a preliminary trade deal earlier this month.
In US, stock indexes retreated on Monday, the penultimate session of 2019, following a powerful stretch of returns, supported in the final few weeks by optimism over an initial trade pact with China.
On economic front, the November US trade deficit fell to a more than 27-month low, down 5.4%,.
Contracts to buy previously-owned US homes rose in November, according to the National Association of Realtors.
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