Key benchmark indices edged lower in mid-morning trade. At 11:17 IST, the barometer index, the S&P BSE Sensex, was down 235.88 points or 0.95% at 24,558.08. The losses for the Sensex were higher in percentage terms than those for the 50-unit Nifty 50 index. The Nifty was down 60.60 points or 0.80% at 7,471.20. Broader market depicted strength.
The Sensex rose 23.52 points, or 0.09% at the day's high of 24,817.48 in early trade. The index fell 264.26 points, or 1.07% at the day's low of 24,529.7 in mid-morning trade. The Nifty 50 index rose 15.30 points, or 0.20% at the day's high of 7,547.10 in early trade. The index fell 72 points, or 0.96% at the day's low of 7459.80 in mid-morning trade.
The market breadth indicating the overall health of the market was positive. On BSE, 1,088 shares rose and 998 shares fell. A total of 123 shares were unchanged. The BSE Mid-Cap index was currently up 0.08%. The BSE Small-Cap index was currently up 0.17%. Both these indices outperformed the Sensex.
In the overseas market, most Asian stocks edged higher today, 10 March 2016, after New Zealand surprised markets with a rate cut, keeping investors primed for more stimulus from the European Central Bank (ECB) later today, 10 March 2016, as global policy makers step up efforts to support their wobbly economies. A rebound in the price of oil, a source of recent anxiety, also calmed investor nerves. In mainland China, Shanghai Composite was down 0.49%. Hong Kong's Hang Seng index was up 0.53%. US stocks closed modestly higher yesterday, 9 March 2016, as a rally in oil prices and sharp advances in energy and tech stocks kept the main indexes buoyant.
Sugar shares edged lower. Sakthi Sugars (down 3.14%), Triveni Engineering & Industries (down 2.49%), Balrampur Chini Mills (down 2.48%), Rana Sugars (down 2.09%), Dhampur Sugar Mills (down 1.98%), Dwarikesh Sugar Industries (down 1.81%), EID Parry (India) (down 1.74%), KCP Sugar & Industries Corporation (down 1.55%), DCM Shriram Industries (down 1.43%), Bajaj Hindusthan Sugar (down 1.12%), Shree Renuka Sugar (down 0.72%) and Oudh Sugar Mills (down 0.39%), edged lower. Empee Sugars and Chemicals (up 0.32%) and Upper Ganges Sugar & Industries (up 1.32%), edged higher.
FMCG shares were mixed. Colgate Palmolive (India) (down 2.12%), Procter & Gamble Hygiene & Health Care (down 1.67%), Nestle India (down 1.3%), Hindustan Unilever (down 1.05%), Godrej Consumer Products (down 0.7%), Tata Global Beverages (down 0.51%) and Dabur India (down 0.2%), edged lower. Britannia Industries (up 0.01%), Marico (up 0.25%), Bajaj Corp (up 0.47%), GlaxoSmithKline Consumer Healthcare (up 0.47%) and Jyothy Laboratories (up 1.05%), edged higher.
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