Benchmarks trade with modest losses

Key benchmark indices were trading with modest losses in afternoon trade. At 13:20 IST, the barometer index, the S&P BSE Sensex, was down 110.37 points or 0.31% at 35,957.96. The Nifty 50 index was down 35.10 points or 0.32% at 10,827.45.

The Sensex was currently trading a tad below the psychological 36,000 level after sliding below that level in early trade. Trading for calendar 2019 began on a volatile note as the key benchmark indices reversed early gains to sink in negative zone. Stocks extended fall and hit intraday low in morning trade. Key indices hovered in negative zone in afternoon trade.

The S&P BSE Mid-Cap index was off 0.22%. The S&P BSE Small-Cap index was up 0.23%.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 1260 shares rose and 1047 shares fell. A total of 121 shares were unchanged.

Yes Bank (up 1.35%), Sun Pharmaceutical Industries (up 0.93%), Axis Bank (up 0.92%), Bharti Airtel (up 0.56%), Bajaj Auto (up 0.44%) and TCS (up 0.24%), were the major Sensex gainers.

IndusInd Bank (down 1.44%), Tata Steel (down 1.41%), Hindustan Unilever (down 1%), Mahindra & Mahindra (down 0.96%), Asian Paints (down 0.71%) and Power Grid Corporation of India (down 0.68%), were the major Sensex losers.

Car major Maruti Suzuki India fell 0.41% after the company said that its total sales fell 1.3% to 1.28 lakh units in December 2018 over December 2017. Maruti Suzuki India said total domestic sales rose 1.8% to 1.21 lakh units, while total exports declined 36.4% to 6,859 units in December 2018 over December 2017. The announcement was made during trading hours today, 1 January 2019.

On the macro front, the index of eight core industries comprising 40.27% of the weight of items included in the Index of Industrial Production (IIP) has posted 3.5% growth in November 2018 over November 2017. Its cumulative growth during April to November 2018-19 stood at 5.1%.

Overseas, markets across Japan, China, Hong Kong, UK, US, France, South Korea, Singapore, Germany and Brazil, among others, are closed on account of New Year holiday. Cautious optimism over US-China trade talks helped the US stocks to end higher in the final trading session of the year on Monday in thin pre-holiday trading.

Powered by Capital Market - Live News