Indices sink in negative zone

Key indices sink in negative zone in mid-afternoon trade. At 14:28 IST, the barometer index, the S&P BSE Sensex, was down 68.58 points or 0.18% at 38,531.76. The Nifty 50 index was down 31.45 points or 0.27% at 11,566.80. Shares of index heavyweight Reliance Industries dropped. Realty stocks fell.

Indices edged higher in early trade on buying demand in index pivotals. Indices trimmed gains in morning trade. Stocks hovered in positive zone in mid-morning trade. Indices sharply pared gains in afternoon trade.

Broader market wiped off day's gains. The S&P BSE Mid-Cap index was down 0.34%. The S&P BSE Small-Cap index was off 0.32%.

The market breadth, indicating the overall health of the market, was negative. On the BSE, 992 shares rose and 1407 shares fell. A total of 147 shares were unchanged.

Index heavyweight Reliance Industries dropped 2.1% to Rs 1,355.75.

Realty stocks fell. DLF (down 1.87%), Indiabulls Real Estate (down 4.41%), Housing Development and Infrastructure (down 1.79%), D B Realty (down 10%), Sobha (down 1.15%), Godrej Properties (down 2.22%) declined. Prestige Estates Projects (up 1.46%) and Oberoi Realty (up 0.58%) rose.

Vedanta was down 1.11%. The company will declare January-March 2019 quarterly earnings today, 7 May 2019.

Overseas, shares in Europe and Asia were mixed Tuesday amid renewed tensions between the US and China after Washington said tariffs on Chinese goods will rise on Friday. Sentiment remained fragile as traders waited for the next development in the trade negotiations. Talks with Chinese officials will reportedly take place Thursday and Friday.

US stocks finished lower Monday even in the wake of a dramatic comeback after President Donald Trump threatened over the weekend to increase tariffs on $200 billion of Chinese goods to 25% from 10%, raising fresh fears about a market-disruptive clash between the world's largest economies.

Powered by Capital Market - Live News