A bout of volatility was witnessed as key benchmark indices trimmed losses in early afternoon trade. At 12:20 IST, the barometer index, the S&P BSE Sensex, was down 118.12 points or 0.33% at 36,043.52. The Nifty 50 index was down 32.20 points or 0.29% at 11,053.80.
Trading was volatile as traders roll over positions in the futures & options (F&O) segment from the near month January 2018 series to February 2018 series. The January 2018 derivatives contract expires today, 25 January 2018.
Key indices opened almost flat and declined as the session progressed. After hitting a fresh intraday low in mid-morning trade, key indices trimmed losses in early afternoon trade.
The Sensex rose 85.38 points, or 0.24% at the day's high of 36,247.02 in early trade. The index fell 144.16 points, or 0.40% at the day's low of 36,017.48 in mid-morning trade, its lowest intraday level since 23 January 2018. The Nifty rose 9.60 points, or 0.09% at the day's high of 11,095.60 in early trade. The index fell 38.40 points, or 0.35% at the day's low of 11,047.60 in mid-morning trade.
Among secondary barometers, the BSE Mid-Cap index was down 0.20%. The BSE Small-Cap index was down 0.11%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was negative. On BSE, 1,417 shares fell and 1,171 shares rose. A total of 150 shares were unchanged.
IT shares were mixed. Oracle Financial Services Software (down 1.95%), HCL Technologies (down 1.76%), Infosys (down 1.55%) and Hexaware Technologies (down 1.26%), edged lower. Tech Mahindra (up 0.42%), Wipro (up 0.59%), Persistent Systems (up 0.68%), MindTree (up 0.85%) and MphasiS (up 3.30%), edged higher.
TCS was down 1.19%. The company said that the company and Mesosphere, the creators of DC/OS, the premier platform for building and running data-intensive, containerized applications announced a partnership aimed at helping customers utilize data services and cloud platforms more efficiently. The announcement was made after market hours yesterday, 24 January 2018.
Pharmaceutical shares were mixed. Divi's Laboratories (up 1.65%), Glenmark Pharmaceuticals (up 0.54%), Piramal Enterprises (up 0.46%), Cipla (up 0.39%), GlaxoSmithKline Pharmaceuticals (up 0.36%), Lupin (up 0.29%), Sun Pharmaceutical Industries (up 0.24%), Cadila Healthcare (up 0.16%) and Strides Shasun (up 0.07%), edged higher. Dr Reddy's Laboratories (down 0.32%), Alkem Laboratories (down 0.42%), Wockhardt (down 0.5%), Aurobindo Pharma (down 0.65%) and IPCA Laboratories (down 1.08%), edged lower.
Orient Green Power Company advanced 1.86% after the company reported consolidated net loss of Rs 51.08 crore in Q3 December 2017, lower than net loss of Rs 69.66 crore in Q3 December 2016. Consolidated net sales rose 1.4% to Rs 56.09 crore in Q3 December 2017 over Q3 December 2016. The result was announced after market hours yesterday, 24 January 2018.
Overseas, Asian shares declined after stocks wobbled on Wall Street. US stocks closed mixed on Wednesday as markets focused on a mix of corporate earnings, trade war concerns and the broad decline in the US currency. The Dow Jones Industrial Average rose 0.16%. The S&P 500 index shed 1.59 points, while the Nasdaq Composite Index fell 0.6%.
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