Amid a divergent trend among various index constituents, the key benchmark indices were trading a tad above the flat line in afternoon trade. At 13:25 IST, the barometer index, the S&P BSE Sensex, was up 4.84 points or 0.02% at 31,316.41. The Nifty 50 index was up 2.30 points or 0.02% at 9,659.85. Gains in Tata Motors and Infosys were almost offset by losses in HDFC and Axis bank.
The market breadth, indicating the overall health of the market, turned negative from positive in afternoon trade. On BSE, 1,342 shares fell and 1,155 shares rose. A total of 165 shares were unchanged.
Most realty stocks declined. Housing Development and Infrastructure (down 1.44%), DLF (down 0.42%), Unitech (down 0.78%), Godrej Properties (down 0.68%), Prestige Estates Projects (down 0.23%), Oberoi Realty (down 0.96%) and Parsvnath Developers (down 2.27%) fell. Indiabulls Real Estate (up 0.97%), D B Realty (up 0.24%) and Sobha (up 0.87%) rose.
IT stocks were mostly higher. Infosys (up 1.14%), HCL Technologies (up 0.94%), Tech Mahindra (up 0.72%), Hexaware Technologies (up 0.99%) and MphasiS (up 1%) rose. TCS (down 0.13%), Wipro (down 0.02%) and Oracle Financial Services Software (down 0.15%) fell.
MindTree rose 0.54%. The company said that Magnet 360, a MindTree company, announced the release of ConsumerConnect 360a Salesforce Fullforce Solution Accelerator for consumer goods brands. The announcement was made after market hours yesterday, 19 June 2017.
Amtek Auto jumped 7.25% to Rs 25.15, with the stock recovering on bargain hunting after recent slide. Shares of Amtek Auto had declined 30.52% in the preceding three trading sessions to settle at Rs 23.45 yesterday, 19 June 2017, from its closing price of Rs 33.75 on 14 June 2017.
Overseas, European stocks were trading higher led by advances among tech and consumer-related shares. Reports indicated that Brexit is likely to be on the agenda for investors on Tuesday following the start of Brexit negotiations on Monday, where the EU and UK's chief Brexit negotiators agreed that talks up until October should concentrate on citizens' rights, a financial settlement and other separation matters.
Asian shares were mixed amid speculation on whether China would be added to the MSCI emerging markets index on the fourth try. Investors are keeping an eye on the decision on whether to include China A-shares in the MSCI Emerging Markets Index. This will be China's fourth attempt at MSCI inclusion, after being passed over the first three times.
US stocks rose overnight with both the Dow and the S&P 500 ending at new records as technology shares rebounded from a recent bout of sharp weakness to lead the market higher. The Dow Jones Industrial Average rose 144.71 points, or 0.7%, to 21,528.99. The S&P 500 gained 20.31 points, or 0.8% to 2,453.46. The Nasdaq Composite Index rose 87.25 points, or 1.4% to 6,239.01.
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