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IT, capital goods stocks witness mixed trend

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Key benchmark indices made a partial recovery in afternoon trade after hitting intraday lows in early afternoon trade. At 13:15 IST, the barometer index, the Sensex, was down 188.15 points or 0.56% at 33,668.63. The index was down 64.10 points or 0.61% at 10,362.75. The market sentiment was impacted after the Reserve of (RBI) banned letters of undertaking (LoUs) for seeking overseas loans. Negative Asian stocks also weighed on the sentiment on the domestic bourses.

Domestic stocks began trading on a subdued note on negative Asian stocks. Key benchmark indices hovered in negative zone in morning trade. Indices extended fall and hit fresh intraday lows in early afternoon trade.

The Mid-Cap index was up 0.04%. The Small-Cap index declined 0.15%. Both these indices outperformed the Sensex.

The breadth, indicating the overall health of the market, was negative. On the BSE, 1,464 shares declined and 1,038 shares advanced. A total of 139 shares were unchanged.

IT stocks were mixed. (down 0.46%), (down 0.37%) and (down 0.3%) edged lower. (up 2.24%) and (up 0.43%) edged higher.

IT lost 0.26%. sold 3.12 crore shares, or 1.63% equity, of in two separate bulk deals on NSE yesterday, 13 March 2018. offloaded 2.05 crore shares at Rs 2,876.46 each. Another 1.06 crore shares were sold at Rs 2,872.19 each. As on 31 December 2017, held 73.52% stake in

was up 0.51% after the company announced the opening of its dedicated state-of-the-art technology development center, Lab 21, showcasing the deep collaboration, investments, and advocacy on AI platform/Cortana Analytics in the Azure Cloud. The announcement was made during market hours today, 14 March 2018.

Capital goods stocks were mixed. (down 1.04%), (down 0.44%), (down 0.36%) and (down 0.35%) edged lower. (up 0.78%), (up 0.16%) and (up 0.98%) edged higher.

fell 0.31%. The company announced that its wholly owned subsidiary viz. Hydrocarbon Engineering, has won orders worth above Rs 1600 crore across various business segments. The announcement was made during market hours today, 14 March 2018.

Meanwhile, the Reserve of (RBI) in a press release issued yesterday, 13 March 2018 said that on a review of the extant guidelines, it has been decided to discontinue the practice of issuance of Letters of Undertaking (LoUs)/Letters of Comfort (LoCs) for Trade Credits for imports into by Authorised Dealer Category - I banks with immediate effect. Letters of Credit and Guarantees for Trade Credits for imports into may continue to be issued.

Overseas, Asian stocks declined following an overnight slide in US equities after fresh personnel shakeup in the US Donald Trump's administration spurred concerns about a unilateral approach to trade, national security and foreign affairs.

Among economic data, Chinese industrial-production, fixed-asset investment and data showed the grew much faster than expected in the first two months of 2018. releases combined data for January and February to limit distortions caused by the Lunar New Year holiday, which was in January last year but February this year.

Value-added industrial output, a rough proxy for economic growth, expanded by 7.2% in January and February from a year earlier, compared with a 6.2% on-year increase in December, the said today, 14 March 2018. Industrial production rose 0.57% on-month in February, compared with December's 0.52% growth.

Fixed-asset investment outside rural households climbed 7.9% in the first two months of 2018 from a year earlier, quickening from a 7.2% increase in 2017. grew 9.7% on-year in January and February, accelerating from a 9.4% rise in December.

Minutes from the of Japan's January meeting, released today, 14 March 2018 showed that some board members warned the central should keep a close eye on unexpected side effects from the current monetary policy.

US equities fell in choppy trade yesterday, 13 March 2018 after tech shares pulled back amid concerns trade tensions between the US and could increase. The sudden firing of US took some by surprise less than a week after top resigned from the US has nominated CIA Mike Pompeo, an ex-congressman, to replace Tillerson.

The consumer-price index rose a mild 0.2% in February after a 0.5% increase in January. The year-over-year rate for CPI edged up to 2.2% in February from 2.1% in January.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, March 14 2018. 13:23 IST