Key benchmarks end with small losses

Key equity indices fell marginally on Thursday amid negative cues from global markets. The barometer index, the S&P BSE Sensex, fell 32.83 points or 0.08% to 38,690.10, as per the provisional closing data. The Nifty 50 index fell 15.10 points or 0.13% to 11,676.80, as per the provisional closing data.

Trading was volatile as traders rolled over positions in the F&O segment from the August 2018 series to September 2018 series. The August 2018 F&O contracts expired today, 30 August 2018.

Broader market settled with decent gains. Among secondary barometers, the BSE Mid-Cap index rose 0.43%. The BSE Small-Cap index rose 0.27%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was positive. On BSE, 1455 shares rose and 1265 shares fell. A total of 158 shares were unchanged.

IndusInd Bank (down 1.95%), Maruti Suzuki India (down 1.89%), Reliance Industries (down 1.78%), Axis Bank (down 1.06%), Asian Paints (down 1.04%) and Yes Bank (down 1.04%), were the major Sensex losers.

Sun Pharmaceutical Industries (up 3.33%), Tata Steel (up 2.52%), NTPC (up 2.32%), ITC (up 2.30%), Bharti Airtel (up 2.09%), Power Grid Corporation of India (up 1.47%) and ICICI Bank (up 1.23%), were the major Sensex gainers.

Reliance Infrastructure surged 5.63%. The company announced the successful completion of the sale of its 100% shareholding in Integrated Mumbai Power Distribution Business to Adani Transmission. The total transaction value is Rs 18800 crore. The announcement was made after market hours yesterday, 29 August 2018.

Overseas, European stocks were lower as investors continued to monitor global trade talks and corporate earnings. Asian stocks gave up earlier gains and fell as concerns persist over the development of the Sino-US trade spat.

The US stock market extended gains Wednesday as the S&P 500 and the Nasdaq closed at a record for a fourth session, while the Dow finished at its highest since February. Investor sentiments were also boosted by the announcement that Canada had rejoined the North American Free Trade Agreement (NAFTA) talks, following the deal reached by the US and Mexico earlier this week.

On the US data front, an update to second-quarter gross domestic product (GDP) came in showing growth at a 4.2% annualized pace, which represented the fastest pace of expansion in almost four years.

Pending-home sales declined 0.7% in July, the National Association of Realtors said. NAR's index, which tracks real-estate transactions where a contract has been signed but the deal has not yet closed, fell to a reading of 106.2.

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