Key benchmark indices edged lower in early trade tracking weakness in Asian markets. At 9:18 IST, the barometer index, the S&P BSE Sensex was off 150.29 points or 0.57% at 26,010.61. The 50-unit Nifty 50 index was down 57.70 points or 0.72% at 7,905.50. The Sensex was currently trading above the psychological 26,000 mark after slipping below that level at the onset of the trading session.
In overseas markets, China led decline in Asian markets today, 4 January 2016 after the latest data showed that the Caixin China manufacturing purchasing managers' index (PMI), a private gauge of nationwide factory activity, declined to 48.2 in December 2015 from 48.6 in November 2015. A reading below 50 indicates contraction. In China, the Shanghai Composite index was off 3.88%. US stock markets were shut on Friday, 1 January 2016, on account of New Year Day Holiday.
Closer home, the market breadth indicating the overall health of the market was positive. On BSE, 783 shares rose and 619 shares declined. A total of 80 shares were unchanged. The BSE Mid-Cap index was currently off 0.06%. The decline in this index was lower than Sensex's decline in percentage terms. The BSE Small-Cap index was currently up 0.04%, outperforming the Sensex.
Tata Motors declined 1.17% at Rs 396.95 after the company announced that the total sales of Tata Motor passenger and commercial vehicles declined 4% to 39,973 units in December 2015 over December 2014. Domestic sale of Tata commercial and passenger vehicles fell 6% to 35,416 units in December 2015 over December 2014. Exports rose 15% to 4,557 units in December 2015 over December 2014. The announcement was made after market hours on Friday, 1 January 2016.
Hero MotoCorp (HMCL) fell 0.94% at Rs 2,662.50 after the company announced that its total two-wheeler sales declined 5.13% to 4.99 lakh units in December 2015 over December 2014. The announcement was made after market hours on Friday, 1 January 2016.
Coal India fell 0.57% at Rs 332. Coal India and its subsidiaries on provisional basis achieved 102% of targeted production at 52.07 million tonnes in December 2015. Coal India and its subsidiaries on provisional basis achieved 97% of targeted offtake at 48.16 million tonnes in December 2015. The announcement was made after market hours on Friday, 1 January 2016.
On the macro front, Markit Economics will unveil the outcome of a monthly survey on India's manufacturing sector for December 2015 at 10:30 IST today, 4 January 2016. The seasonally adjusted Nikkei India Manufacturing Purchasing Managers' Index (PMI) fell to a 25-month low of 50.3 in November 2015. The reading of 50 separates contraction from expansion.
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