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Metal stocks decline

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Key benchmark indices partially recovered intraday gains in mid-afternoon trade after hovering near flat line in afternoon trade. At 14:18 IST, the barometer index, the Sensex, rose 69.90 points or 0.2% at 34,422.69. The 50 advanced 6.10 points or 0.06% at 10,629.70.

Continuous foreign fund inflows and bets by investors amid optimism over Q3 FY 2018 earnings and upcoming budget helped the key indices to hit record highs in early trade amid initial volatility. Indices hovered with small gains till mid-morning trade. Indices hovered near flat line in afternoon trade.

Among secondary indices, the Mid-Cap fell 0.42%. The Small-Cap advanced 0.07%. Both these indices underperformed the

The breadth, indicating the overall health of the market, was negative. On the BSE, 1,601 shares fell and 1,299 shares rose. A total of 112 shares were unchanged.

Metal and mining stocks dropped. NMDC (down 4.2%), (down 2.77%), (down 2.66%), (down 1.38%), Vedanta (down 1.34%), (down 0.87%), (down 0.87%) and SAIL (down 0.76%) declined. (up 0.05%) and (up 0.45%) edged higher.

Aviation stocks declined. (down 3.41%), (down 1.42%) and Aviation (down 0.06%) dropped.

advanced 5.65% at Rs 450 after the company announced that it has successfully completed Gigabit-capable (GPON) equipment installations in over 40,000 gram panchayats in as part of the BharatNet phase-I project. The announcement was made during trading hours today, 9 January 2018. BharatNet is an ambitious project to bring high-speed connectivity to 2.50 lakh gram panchayats of the country.

Overseas, European stocks edged slightly higher in early trade as investors monitored a fresh batch of economic data. Official data released today, 9 January 2018 showed that industrial production in Germany, Europe's biggest economy, picked up strongly in November after two months of declines. The Ministry said that production was up 3.4% compared with the previous month.

Most Asian stocks edged higher as investors in the region digested earnings guidance from tech heavyweight and kept an eye on inter-talks. North and have begun high-level talks, the first between the countries in two years. will reportedly send athletes and cheerleaders to next month's in South Korea, after the two countries held their first official talks for more than two years. The talks represent a cautious diplomatic breakthrough after months of rising tensions over Pyongyang's nuclear weapons programme. US called the talks a "big start", adding that it would be a "great thing for all of humanity" if they resulted in a positive outcome.

In the US, the and Nasdaq composite finished Monday's session at all-time highs as investors remained optimistic on the US

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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, January 09 2018. 14:14 IST