Key benchmark indices sharply pared gains and were trading near flat in morning trade. At 10:25 IST, the barometer index, the S&P BSE Sensex, was up 3.57 points or 0.01% at 37,340.42. The Nifty 50 index was down 4.50 points or 0.04% at 11,273.85.
The market opened higher and hit fresh intraday high in early trade. Indices sharply pared gains and were trading near flat line in morning trade. The Sensex rose 159.95 points, or 0.43% at the day's high of 37,496.80 in early trade. The index fell 27.58 points, or 0.07% at the day's low of 37,309.27 in morning trade.The Nifty rose 31 points, or 0.27% at the day's high of 11,309.35 in early trade. The index fell 13.25 points, or 0.12% at the day's low of 11,265.10 in morning trade.
Among secondary barometers, the BSE Mid-Cap index was down 0.17%, underperforming the Sensex. The BSE Small-Cap index was up 0.24%, outperforming the Sensex.
The market breadth, indicating the overall health of the market, was strong. On BSE, 1235 shares rose and 781 shares fell. A total of 116 shares were unchanged.
Metal shares were mixed. Hindalco Industries (down 1.24%), National Aluminium Company (down 0.24%), Hindustan Zinc (down 0.22%), Jindal Steel & Power (down 0.2%), JSW Steel (down 0.03%), edged lower. NMDC (up 0.19%), Hindustan Copper (up 0.33%), Steel Authority of India (up 0.33%), Tata Steel (up 0.91%) and Vedanta (up 1.82%), edged higher.
Most FMCG shares rose. Bajaj Corp (up 1.11%), Godrej Consumer Products (up 1.09%), Marico (up 1.03%), Hindustan Unilever (up 0.99%), Colgate Palmolive (India) (up 0.83%), Dabur India (up 0.83%), GlaxoSmithKline Consumer Healthcare (up 0.61%) and Tata Global Beverages (up 0.37%), edged higher. Procter & Gamble Hygiene & Health Care (down 0.3%), Nestle India (down 0.93%), Jyothy Laboratories (down 1.09%) and Britannia Industries (down 2.06%), edged lower.
Overseas, Asian stocks declined as markets took cues from declines in Wall Street's last session, with focus this week shifting to the Bank of Japan.
The Bank of Japan (BoJ) will declare its interest rate decision on Tuesday, 31 July 2018. BoJ left its key short-term interest rate unchanged at -0.1% at its June 2018 meeting.
US stocks closed lower Friday, 27 July 2018, following disappointing results from Twitter Inc. and bellwethers, including Exxon and Intel.
US second-quarter GDP grew at 4.1%, with a jump in consumer spending and business investment contributing to the figure. That was the quickest pace of growth since 2014. Separately, consumer sentiment fell to a six-month low in July, the University of Michigan said.
Meanwhile, the Federal Reserve's Federal Open Market Committee will embark on its two-day meeting on Tuesday, with the central bank expected to announce its decision during Wednesday, 1 August 2018, US hours.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
