Key benchmarks come off day's low

A bout of volatility was witnessed as key benchmarks pared losses after hitting fresh intraday low in mid-morning trade. At 11:16 IST, the barometer index, the S&P BSE Sensex, was down 127.43 points or 0.42% at 29,902.31. The Nifty 50 index was currently down 44.85 points or 0.48% at 9,297.30. Weakness in other Asian indices spoiled investors sentiment. The Sensex was trading below the psychologically important 30,000 mark.

The Sensex fell 153.39 points, or 0.51% at the day's low of 29,876.35 in mid-morning trade, its lowest intraday level since 25 April 2017. The index rose 37.90 points, or 0.13% at the day's high of 30,067.64 in morning trade. The Nifty fell 51.90 points, or 0.56% at the day's low of 9,290.25 in mid-morning trade, its lowest intraday level since 25 April 2017. The index rose 0.50 points, or 0.01% at the day's high of 9,342.65 in morning trade.

Among secondary barometers, the BSE Mid-Cap index was currently up 0.30%. The BSE Small-Cap index was currently up 0.33%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was positive. On BSE, 1,253 shares rose and 1,152 shares fell. A total of 140 shares were unchanged.

Capital goods shares were mixed. Bharat Electronics (up 2.50%), Crompton Greaves (up 1.21%), Havells India (up 1.03%), Suzlon Energy (up 0.98%), Jindal Saw (up 0.80%), Reliance Defence and Engineering (up 0.77%), Punj Lloyd (up 0.68%), SKF India (up 0.59%), Thermax (up 0.45%), GE Power India (up 0.43%), GE T&D India (up 0.37%), edged higher. Siemens (down 0.11%), Lakshmi Machine Works (down 0.15%), BEML (down 0.23%), Bharat Heavy Electricals (down 0.31%), Praj Industries (down 0.86%), AIA Engineering (down 0.95%) and ABB India (down 1.13%), edged lower.

Engineering and construction major Larsen & Toubro (L&T) was down 0.69% to Rs 1,750.75.

Realty shares were mixed. Indiabulls Real Estate (down 6.45%), Prestige Estates Projects (down 3.21%), Peninsula Land (down 2.83%), Housing Development and Infrastructure (HDIL) (down 1.74%), DLF (down 1.56%), Sobha (down 1.37%), D B Realty (down 0.62%), Omaxe (down 0.23%), Parsvnath Developers (down 0.18%) and Unitech (down 0.18%), edged lower. Godrej Properties (up 0.12%), Phoenix Mills (up 0.12%), Oberoi Realty (up %), Sunteck Realty (up 0.18%), Anant Raj (up 1.57%) and Mahindra Lifespace Developers (up 2.25%), edged higher.

Ujjivan Financial Services lost 3.32% after consolidated net profit fell 55.96% to Rs 19.35 crore on 8.43% decline in total income to Rs 340 crore in Q4 March 2017 over Q3 December 2016. The result was announced after market hours yesterday, 27 April 2017.

Overseas, Asian shares declined as geopolitical concerns continued to loom over the markets. US President Donald Trump threatened to terminate the US trade agreement with South Korea, declaring that the five-year-old accord with a key ally was "a horrible deal that has left America destroyed. Trump also warned that conflict with North Korea was possible, even though he said he preferred peaceful resolution more.

In Europe, the European Central Bank (ECB) left its monetary policy unchanged even as ECB President Mario Draghi acknowledged the economic recovery taking place in the Euro zone.

US stocks closed higher Thursday, 27 April 2017, ahead of major tech company earnings. The Dow Jones industrial average and the S&P 500 struggled to hold opening gains, while the tech-heavy Nasdaq composite closed at a record high. The Dow Jones industrial average closed 6.24 points higher, or 0.03% to 20,981.3. The S&P 500 rose 1.32 point, or 0.06%, to 2,388.77. The Nasdaq composite rose 23.71 points, or 0.39%, to 6,048.94.

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