Indices pare some losses; broader markets turn positive

The key equity benchmarks managed to pare some losses in morning trade. The Nifty traded above the 18,100 level. Shares of consumer durable manufacturers saw strong buying interest for third consecutive session.

At 10:29 IST, the barometer index, the S&P BSE Sensex, was down 106.63 points or 0.18% to 60,820.80. The Nifty 50 index lost 29.60 points or 0.16% to 18,102.70.

In the broader market, the S&P BSE Mid-Cap index rose 0.08% while the S&P BSE Small-Cap index added 0.21%.

Saregama India (up 7.40%), Rossari Biotech (up 7.40%), Adani Wilmar (up 5%), Tata Teleservices (Maharashtra) (up 4.98%) and Mahindra CIE Automotive (up 4.60%) were the top broader market gainers.

Triveni Turbine (down 3.03%), Mazagon Dock Shipbuilders (down 2.91%), CEAT (down 2.20%), Privi Speciality Chemicals (down 2.08%) and Amara Raja Batteries (down 2.19%) the top losers in the broader market segment.

The market breadth was positive. On the BSE, 1892 shares rose and 1204 shares fell. A total of 148 shares were unchanged.

Buzzing Index:

The Nifty Consumer Durables index rose 1.12% to 25,174.15. The index has added 2.72% in three sessions.

Titan Company (up 2.49%), Orient Electric (up 2.37%), V-Guard Industries (up 1.93%), Relaxo Footwears (up 1.74%) and Crompton Greaves Consumer Electricals (up 1.65%) were the top gainers.

Among the other gainers were Rajesh Exports (up 1.21%), Havells India (up 0.78%), TTK Prestige (up 0.56%), Whirlpool of India (up 0.53%) and Bata India (up 0.47%).

On the other hand, Blue Star (down 0.42%), Amber Enterprises India (down 0.27%) and Dixon Technologies (India) (down 0.27%) moved lower.

Stocks in Spotlight:

India Pesticides jumped 8.55%. The company's wholly owned subsidiary i.e. Shalvis Specialities Limited (SSL) has received environmental clearance from Ministry of Environment for setting up Manufacturing Plant of "Agrochemicals & Intermediates, API Ingredients & Intermediates and Fine Chemicals Manufacturing Unit' at UPSIDC Industrial Area, Sumerpur, District Hamirpur, Uttar Pradesh.

Hariom Pipe Industries surged 12.23%. The company entered into asset transfer agreement with R.P.Metal Sections to purchase their operating asset which manufactures galvanized pipe and cold roll coil.

Kwality Pharmaceuticals zoomed 5.60%. The company had submitted the EU Compliance application to Republic of Bulgaria for carrying out an inspection of Unit II of Kwality Pharmaceuticals situated at Himachal Pradesh.

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