Trading turned volatile as the Sensex and the Nifty pared gains after hitting fresh intraday high in mid-morning trade. At 11:25 IST, the barometer index, the S&P BSE Sensex, was up 40.15 points or 0.11% at 35,256.47. The Nifty 50 index was up 4.80 points or 0.04% at 10,722.60. The undertone of the market was fragile as investors assessed the implications of President Donald Trump's decision to scrap a nuclear deal with Iran.
Shares witnessed some volatility. The Sensex rose 80.13 points, or 0.23% at the day's high of 35,296.45 in mid-morning trade. The index fell 82.12 points, or 0.23% at the day's low of 35,134.20 in early trade. The Nifty rose 16.30 points, or 0.15% at the day's high of 10,734.10 in mid-morning trade. The index fell 27.95 points, or 0.26% at the day's low of 10,689.85 in early trade.
Among secondary barometers, the BSE Mid-Cap index was down 0.34%, underperformed the Sensex. The BSE Small-Cap index was up 0.15%, outperforming the Sensex.
The market breadth, indicating the overall health of the market, once again turned negative from positive in mid-morning trade. On BSE, 1149 shares fell and 1147 shares rose. A total of 107 shares were unchanged.
Asian Paints (up 1.42%), Tata Steel (up 1.37%), Yes Bank (up 1%) and Bharti Airtel (up 0.87%), were the major Sensex gainers.
State Bank of India (down 1.02%), Mahindra & Mahindra (down 0.65%), Maruti Suzuki India (down 0.57%), HDFC (down 0.49%), ICICI Bank (down 0.45%) and Hindustan Unilever (down 0.32%), were the major Sensex losers.
Tata Motors was up 3.97% after the company's UK unit, Jaguar Land Rover (JLR), reported total retail sales of 45,180 vehicles in April 2018, up 11.9% year-on-year. The announcement was made during trading hours today, 9 May 2018.
Overseas, Asian shares were mixed following President Donald Trump's announcement that the US would pull out of the Iran nuclear deal.
US stocks came off their lows on Tuesday to end a choppy session little changed, after Trump announced the US was abandoning the 2015 Iran nuclear deal, which was forged by former President Barack Obama three years ago. The president also said he planned to ramp up penalties against Tehran, including the highest level of economic sanctions.
In US, an index of small-business optimism from the National Federation of Independent Businesses ticked up 0.1 point to 104.8 in April. Separately, a report on US job openings, known as the Job Openings and Labor Turnover Survey, or JOLTS, showed a record 6.6 million job openings in March.
Meanwhile, US Fed Chairman Jerome Powell reportedly said early Tuesday at an event in Switzerland that emerging-market economies should be able to manage as advanced economies move toward tighter monetary policy.
Crude oil prices surged as Trump walking away from an international nuclear deal with Iran could curb the OPEC-member's crude exports in an already tight market. In the global commodities markets, Brent crude oil futures for July 2018 settlement was up $1.77 at $76.62 a barrel.
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