Sensex, Nifty turn flat

The market was flat in mid-afternoon trade. At 14:20 IST, the barometer index, the S&P BSE Sensex, was up 2.05 points or 0.01% at 35,647.45. The Nifty 50 index was flat at 35,647.45. Investors were cautious ahead of a deadline when tariffs from the US and China are due to be enforced.

Broader market witnessed selling. Among secondary barometers, the BSE Mid-Cap index was down 0.37%. The BSE Small-Cap index was down 0.14%. Both these indices underperformed the Sensex.

The market breadth, indicating the overall health of the market, was negative. On BSE, 1059 shares rose and 1437 shares fell. A total of 138 shares were unchanged.

 

Most auto stocks declined. Tata Motors (down 2.21%), Ashok Leyland (down 1.72%), TVS Motor Company (down 1.09%), Escorts (down 0.89%), Eicher Motors (down 0.53%) and Bajaj Auto (down 0.32%), edged lower. Hero MotoCorp (up 1.05%), Maruti Suzuki India (up 1.06%) and Mahindra & Mahindra (up 1.32%), edged higher.

Most power generation stocks declined. Adani Power (down 3.42%), GMR Infrastructure (down 1.82%), Reliance Power (down 1.3%), Tata Power (down 0.9%), NTPC (down 0.33%), Reliance Infrastructure (down 0.29%) and NHPC (down 0.22%), edged lower. Torrent Power (up 1.26%), JSW Energy (up 1.88%), Jaiprakash Power Ventures (up 2.87%) and CESC (up 3.17%), edged higher.

State-run Power Grid Corporation of India was down 0.9%. State-run Coal India was up 0.87%.

Overseas, European shares rose as auto sector surged on a report of tariff talks between the US and Europe. Asian markets declined as investors searched for direction ahead of a deadline when tariffs from the US and China are due to be implemented.

A looming 6 July 2018 deadline is set to see the US impose a 25% tariff on $34 billion worth of Chinese goods from more than 800 product categories. China has also announced that it will retaliate with duties on the same value of US products. US stock market was shut on Wednesday for the Independence Day holiday.

Powered by Capital Market - Live News