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Large-caps witness selling pressure

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Key benchmark indices edged lower in mid-morning trade. At 11:17 IST, the barometer index, the S&P Sensex, was down 235.88 points or 0.95% at 24,558.08. The losses for the were higher in percentage terms than those for the 50-unit 50 index. The was down 60.60 points or 0.80% at 7,471.20. Broader market depicted strength.

The 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 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 Mid-Cap index was currently up 0.08%. The Small-Cap index was currently up 0.17%. Both these indices outperformed the

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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First Published: Thu, March 10 2016. 11:18 IST
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