Key benchmark indices hovered near the flat line with marginal losses in mid-afternoon trade. At 14:25 IST, the barometer index, the S&P BSE Sensex, was down 4.96 points or 0.02% at 31,666.75. The Nifty 50 index was down 4.50 points or 0.05% at 9,910.40. Capital goods stocks edged higher. FMCG stocks saw mixed trend.
Domestic stocks nudged higher in early trade, extending their prior four-day winning trend on positive global stocks. Volatility struck bourses in morning trade as stocks trimmed gains after extending initial gains. Stocks slipped into the red in mid-morning trade and traded with small losses later during the session. Key benchmark indices continued to trade with small losses in afternoon trade.
The S&P BSE Mid-Cap index was up 0.46%. The S&P BSE Small-Cap index was up 0.88%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 1,509 shares rose and 1,037 shares fell. A total of 121 shares were unchanged.
Maruti Suzuki India rose 0.31% after the company said its total production rose 3.28% to 1.51 lakh units in September 2017 over September 2016. The announcement was made during trading hours today, 5 October 2017.
Capital goods stocks edged higher. BEML (up 4.05%), ABB India (up 0.38%), Bharat Heavy Electricals (Bhel) (up 0.48%), Bharat Electronics (up 0.03%), Punj Lloyd (up 2.14%), Siemens (up 0.42%) and Thermax (up 0.93%) rose. L&T (down 0.4%) fell.
FMCG stocks saw mixed trend. Colgate-Palmolive (India) (up 1.07%), Britannia Industries (up 0.63%), Dabur India (up 0.49%), Marico (up 0.85%), Tata Global Beverages (up 1.15%), Procter & Gamble Hygiene and Health Care (up 0.83%) and Jyothy Laboratories (up 0.78%) rose.
GlaxoSmithkline Consumer Healthcare (down 0.4%), Godrej Consumer Products (down 0.7%), Hindustan Unilever (down 0.53%), Nestle India (down 0.39%) and Bajaj Corp (down 1.56%) fell.
Glenmark Pharmaceuticals rose 2.13% on reports that the UK drug regulator has renewed a manufacturing certificate for the company's Baddi unit. According to reports, UK drug regulator has renewed a manufacturing certificate for Glenmark Pharmaceuticals' Baddi unit in Himachal Pradesh. Further, Czech drug body has also renewed the manufacturing certificate of Glenmark Pharmaceuticals' Fibichova unit in Czechia, reports added.
NMDC fell 0.71% after the company reduced prices of iron ore in October 2017. NMDC said it reduced prices of lump ore by 4.17%, or Rs 100 per tonne to Rs 2,300 per tonne in October 2017. It has also cut the prices of iron ore fines by 4.63%, or Rs 100 per tonne to Rs 2,060 per tonne in October 2017. The announcement was made after market hours yesterday, 4 October 2017.
On the macro front, the seasonally adjusted Nikkei India Services PMI Business Activity Index pointed to a return to growth of output. The headline figure rose from 47.5 in August to 50.7 in September, a reading that was indicative of a slight pace of expansion. The Indian service sector recovered from the GST-related contractions registered in the previous two months, as signalled by renewed increases in new business and output. The data was released during market hours today, 5 October 2017.
Overseas, most European stocks were trading higher. Asian stocks gained in holiday-thinned trade. Stock markets in Hong Kong, China, and South Korea were closed for holidays.
US stocks posted modest gains yesterday, 4 October 2017 extending their recent streak of advances that's taken all major benchmarks to record levels. The Dow Jones Industrial Average eked out a small gain of 19.97 points, or 0.1%, to 22,661.57. The Nasdaq Composite Index meanwhile, advanced 2.91 points, or less than 0.1%, to 6,534.63, as gains were limited by a slump in technology shares. The S&P 500 rose 3.16 points, or 0.1%, to 2,537.74.
In US economic news, Markit's September figure for its services purchasing managers index dipped to 55.3 in September from 56 in August. The Institute for Supply Management's index of non-manufacturing activity rose to 59.8 in September, compared with 55.3 in the prior period and marked its highest level since mid-2005. A reading of 50 or greater indicates expansion.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content