You are here: Home » News-CM » Equities » Market Report
Business Standard

Weak market breadth

Capital Market 

witnessed sudden selling pressure in afternoon trade after Supreme (SC) judges reportedly said working of Supreme was not in order. At 13:22 IST, the barometer index, the Sensex, was down 36.16 points or 0.10% at 34,467.33. The 50 index was down 13.55 points or 0.13% at 10,637.65.

Justice J Chelameswar, the second senior most in the Supreme Court, today, 12 January 2018, reportedly said the administration of the apex is sometimes not in order and many less than desirable things have taken place. In an unprecedented move, Justice and three other senior judges today held a press conference on various issues relating to the apex judiciary. Besides Justice Chelameswar, the other judges were Justices Ranjan Gogoi, M B Lokur and Unless this institution is preserved, democracy will not survive in this country, Justice reportedly said.

The and had hit record highs in early trade on the back of positive trading sentiment in Asian stocks fueled by strong lead from Wall Street. Also, expectations of recovery in domestic earnings in Q3 FY 18 aided sentiment. Indices hovered with modest gains till mid-morning trade. Suddenly selling pressure emerged in afternoon trade after Supreme (SC) judges reportedly said working of Supreme was not in order.

Among the secondary indices, the Mid-Cap index was down 0.50%. The Small-Cap index was down 0.30%. Both these indices underperformed the

The breadth, indicating the overall health of the market, turned weak from positive. On the BSE, 1,702 advanced and 1,089 declined.

A total of 138 were unchanged.

was down 0.73% to Rs 766. The company announced during trading hours today, 12 January 2018, that its total in rose 3.16% to 3.26 million tonnes in Q3 December 2017 over Q3 December 2016. Total sales in rose 10.37% to 3.30 million tonnes in Q3 December 2017 over Q3 December 2016.

Most power generation stocks declined. (down 4.34%), (down 2.99%), (down 2.82%), (down 2.78%), CESC (down 1.77%), NHPC (down 1.4%), (down 1.16%), (down 1.1%) and (down 0.85%), edged lower. NTPC (up 0.03%) and (up 0.77%), edged higher. State-run was down 0.54%. State-run was down 0.5%.

Most FMCG declined. Hindustan (down 1.05%), (down 1.04%), (down 0.65%), (down 0.58%), (down 0.42%), Godrej Consumer Products (down 0.26%), (down 0.22%) and (down 0.02%), edged lower. (up 0.04%), (up 0.35%), (up 1.19%) and (up 1.79%), edged higher.

gained 3.54% to Rs 38 after the company said that will open its first franchisee store 'Himalaya Food Company' on 14 January 2018 at D-448 G. F Ramphal Chowk, Sector-7 Dwarka, The store will sell 'All Natural-No Preservatives', healthier range of Himalaya products and also serve select appetizers, burgers, french fries and specially innovated healthier drinks developed under the brand 'BURGERS'N'FRIES - ITS NOT JUNK FOOD'. The announcement was made during market hours today, 12 January 2018.

On the macro front, the government is scheduled to announce industrial production data for November 2017 today, 12 January 2018. India's industrial production increased by 2.2% year-on-year in October, easing from an upwardly revised 4.1% gain in September.

The government will also announce today, 12 January 2018, inflation data based on consumer price index (CPI) for December 2017. Consumer prices increased 4.88% year-on-year in November, higher than 3.58% in October.

Overseas, Asian stocks edged higher after strong lead from Wall Street. reported trade data for December with exports up 10.9% and imports rising 4.5%, resulting in a trade surplus at $54.69 billion. reported a 7.9% jump in exports and 15.9% rise in imports both in dollar terms for 2017, the country's said today, 12 January 2018. China's overall trade surplus for 2017 was $422.5 billion.

US stocks surged to close the session at record highs yesterday, 11 January 2018 as investors bet economic growth would pick up steam.

Powered by Capital Market - Live News

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

First Published: Fri, January 12 2018. 13:19 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU