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Market turns range bound

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Key benchmark indices were hovering in a narrow range in mid-afternoon trade. At 14:22 IST, the barometer index, the S&P Sensex, was up 79.16 points or 0.25% at 31,926.05. The 50 index was up 18.40 points or 0.18% at 10,007.15.

The and the Nifty, both, hit their highest intraday levels in more than two weeks in mid-morning trade. The was trading above the psychologically important 10,000 mark in early trade after breaching that level in opening trade.

The rose 147.88 points, or 0.46% at the day's high of 31,994.77 in mid-morning trade, its highest level since 25 September 2017. The index rose 51.31 points, or 0.16% at the day's low of 31,898.20 in morning trade. The rose 45.25 points, or 0.45% at the day's high of 10,034 in mid-morning trade, its highest level since 22 September 2017. The index rose 13.80 points, or 0.14% at the day's low of 10,002.55 in morning trade.

Among secondary barometers, the Mid-Cap index was up 0.53%. The Small-Cap index was up 0.69%. Both these indices outperformed the

The market breadth, indicating the overall health of the market, was positive. On BSE, 1,487 shares rose and 1,128 shares fell. A total of 127 shares were unchanged.

Capital goods shares were mixed. Havells India (up 4.33%), Suzlon Energy (up 3.28%), Praj Industries (up 2.97%), Reliance Defence and Engineering (up 1.71%), Jindal Saw (up 1.64%), BEML (up 1.32%), Siemens (up 1.25%), SKF India (up 0.90%), Bharat Heavy Electricals (up 0.64%), Thermax (up 0.44%) and GE T&D India (up 0.39%), edged higher. Bharat Electronics (down 0.36%), Lakshmi Machine Works (down 0.42%), Crompton Greaves (down 0.56%), AIA Engineering (down 0.62%), ABB India (down 0.8%), GE Power India (down 1.04%) and Punj Lloyd (down 1.14%), edged lower.

Engineering and construction major Larsen & Toubro (L&T) was up 0.38% to Rs 1,145.25.

Fertiliser shares were in demand. Coromandel International (up 3.27%), Deepak Fertilisers & Petrochemicals Corporation (up 2.73%), Gujarat State Fertilizers & Chemicals (up 1.83%), Zuari Global (up 1.74%), Chambal Fertilisers & Chemicals (up 1.05%), Fertilisers & Chemicals Travancore (up 0.77%), National Fertilizers (up 0.23%), Tata Chemicals (up 0.08%) and Rashtriya Chemicals and Fertilisers (RCF) (up 0.11%), edged higher.

Tyre makers rose across the board. JK Tyre & Industries (up 1.32%), Apollo Tyres (up 0.96%), CEAT (up 0.69%), Balkrishna Industries (up 0.61%), Goodyear India (up 0.52%) and MRF (up 0.08%), edged higher.

Overseas, European shares were trading lower following a slightly weaker session on Wall Street as stocks tired from a streak of record highs.

German exports surged in August due to strong demand from the eurozone. The Federal Statistical Office of Germany said Tuesday that total goods exports in August rose 3.1% from July, taking account of seasonal swings and calendar effects. Exports leapt 7.2% from August 2016, led by a 10.6% increase in exports to eurozone countries.

French industrial production unexpectedly fell in August as manufacturing output contracted from July, statistics showed Tuesday. Industrial output in the eurozone's second-largest economy fell 0.3% in August from July, statistics agency Insee said.

Most Asian stocks were trading higher as Japan and South Korea reopened for trading after holiday. Taiwan was shut for public holiday.

US equities were lower at the close on Monday, as losses in the healthcare, consumer services and consumer goods sectors dragged shares lower. The Dow Jones Industrial Average declined 0.06%, while the S&P 500 index declined 0.18%, and the Nasdaq Composite index lost 0.16%.

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

First Published: Tue, October 10 2017. 14:21 IST
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