Indices trade with small losses

Key benchmark indices traded with small losses in afternoon trade as profit booking emerged after stocks hit record high earlier during the day. At 13:20 IST, the barometer index, the S&P BSE Sensex, was down 40.72 points or 0.12% at 33,899.58. The Nifty 50 index was off 11.35 points or 0.11% at 10,481.65. Trading was range bound near the flat line so far during the session.

Domestic stocks edged higher in early trade as trading resumed after a long weekend. The Sensex scaled record high above the psychological 34,000 mark at onset of the day's trading session. The Nifty also hit record high above the 10,500 mark in early trade. A bout of volatility was seen as the key indices traded on a flat note in morning trade after alternately moving above and below the flat line. Stocks once again dipped in negative zone and hit fresh intraday low in mid-morning trade. Indices traded with small losses in afternoon trade.

Among secondary indices, the S&P BSE Mid-Cap index rose 0.55%. The S&P BSE Small-Cap index gained 0.67%. Both these indices outperformed the Sensex.

The breadth, indicating the overall health of the market, was strong. On the BSE, 1,668 shares rose and 952 shares fell. A total of 162 shares were unchanged.

Capital goods stocks gained on renewed buying. Havells India (up 0.14%), ABB India (up 0.36%), BEML (up 0.82%), Thermax (up 1.7%), and Siemens (up 1.15%) gained.

Bharat Heavy Electricals (Bhel) rose 0.87% after the company said it secured a landmark contract for 146 sets of Insulated Gate Bipolar Transistor (IGBT)-based 3 phase electrics for 25 kilovolt (KV) AC Mainline EMU (MEMU) trains. Valued at Rs 672 crore, the order has been placed on Bhel by Rail Coach Factory (RCF), Kapurthala. Bhel's scope of the work in the order envisages design, manufacture, supply, installation and commissioning of IGBT-based propulsion system and other equipment for MEMU trains of Indian Railways.

These system and equipment will be developed and produced by Bhel at its various manufacturing plants located at Bengaluru, Bhopal and Jhansi. The announcement was made on Monday, 25 December 2017,

L&T dropped 0.18%. The buildings & factories business of L&T Construction has bagged orders worth Rs 3355 crore. The announcement was made during market hours today, 26 December 2017.

Reliance Anil Dhirubhai Ambani (ADA) Group shares surged after witnessing recent volatility in stocks. Reliance Communications (RCom) (up 13.43%), Reliance Infrastructure (up 2.17%), Reliance Nippon Life Asset Management (up 0.9%), Reliance Capital (up 4.02%), Reliance Home Finance (up 1.12%), Reliance Naval and Engineering (up 4.4%) and Reliance Power (up 3.01%) gained.

Overseas, Asian stocks were mixed in trading thinned by year-end holidays as several regional markets re-opened after the Christmas break. Hong Kong, Australia and New Zealand markets remain closed today, 26 December 2017. US markets remained shut yesterday, 25 December 2017 on account of Christmas.

In Japan, the nationwide core consumer price index (CPI), which includes oil goods but excludes volatile fresh food prices, rose 0.9% in November from a year earlier, government data showed today, 26 December 2017. The pace of price growth was just ahead of October's 0.8%.

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