Key benchmark indices were trading with small losses in afternoon trade. At 13:22 IST, the barometer index, the S&P BSE Sensex, was down 15.08 points or 0.04% at 33,581.72. The Nifty 50 index was down 10.55 points or 0.10% at 10,314.60.
Key benchmark indices drifted lower in early trade amid initial volatility. Stocks hovered in negative zone in morning trade. Indices continued to trade with small losses in intraday so far.
The S&P BSE Mid-Cap index was up 0.23%. The S&P BSE Small-Cap index was up 0.38%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 1,459 shares rose and 1,057 shares fell. A total of 108 shares were unchanged.
Most auto stocks declined. Ashok Leyland (down 0.95%), TVS Motor Company (down 0.86%), Escorts (down 0.73%), Bajaj Auto (down 0.62%), Hero MotoCorp (down 0.4%), Mahindra & Mahindra (down 0.38%) and Maruti Suzuki India (down 0.38%), edged lower. Eicher Motors (up 0.32%) and Tata Motors (up 0.52%), edged higher.
FMCG shares were mixed. Marico (down 1.48%), Bajaj Corp (down 0.75%), Hindustan Unilever (down 0.71%), GlaxoSmithKline Consumer Healthcare (down 0.55%), Nestle India (down 0.52%), Tata Global Beverages (down 0.38%), Procter & Gamble Hygiene & Health Care (down 0.31%) and Jyothy Laboratories (down 0.13%), edged lower. Britannia Industries (up 0.30%), Godrej Consumer Products (up 0.35%), Colgate Palmolive (India) (up 0.45%) and Dabur India (up 1.60%), edged higher.
Overseas, European stocks opened lower, while most Asian stocks declined as traders digested the latest developments in the US-China trade spat and eyed all-important monthly US jobs data later in the day for clues on US monetary policy. Mainland China markets are shut for a holiday.
Trading in US index futures indicated that the Dow could slide 218 points at the opening bell today, 6 April 2018. In an announcement that came after US stock trading closed yesterday, 5 April 2018 President Donald Trump instructed the US trade representative to consider slapping an extra $100 billion in tariffs on Chinese goods. The latest move is a continuation of a growing trade dispute between the two countries. Trump previously announced $50 billion in proposed tariffs on goods imported from China, which responded by announcing about $50 billion in proposed tariffs on US goods.
US stocks closed higher yesterday, 5 April 2018 with major indexes posting their first three-day rally in several weeks as investors dialed back fears that a trade spat between the US and China will turn into a full-blown trade war.
Meanwhile, the US trade deficit rose 1.6% in February and remained near a 10-year high. The US trade deficit rose to $57.6 billion in February from $56.7 billion in the prior month, data released yesterday, 5 April 2018 showed.
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