Key indices bounce back amid volatility

Trading turned volatile as key indices bounced back in afternoon trade, backed by firmness in index pivotals. At 13:18 IST, the barometer index, the S&P BSE Sensex, was up 68.34 points or 0.20% at 34,801.92. The Nifty 50 index was up 21.25 points or 0.20% at 10,493.75. Sentiment continued to be fragile as rising oil prices and a weakening rupee added to woes during the earnings season, amid negative global cues.

Among secondary barometers, the BSE Mid-Cap index was up 0.44%. The BSE Small-Cap index was up 1.06%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was positive. On BSE, 1494 shares rose and 905 shares fell. A total of 151 shares were unchanged.

ITC (up 1.78%), Infosys (up 1.61%), ONGC (up 1.30%), Reliance Industries (up 1.26%), Sun Pharmaceutical Industries (up 1.08%), Wipro (up 1.06%) and TCS (up 0.91%), were the major Sensex gainers.

Mahindra & Mahindra (down 3.36%), IndusInd Bank (down 3.17%), Hindustan Unilever (down 2.92%), Axis Bank (down 1.92%), Adani Ports & Special Economic Zone (down 1.72%), ICICI Bank (down 1.63%), Vedanta (down 1.35%) and Larsen & Toubro (down 1.25%), were the major Sensex losers.

On the macro front, the official Wholesale Price Index (WPI) for 'All Commodities' (Base: 2011-12=100) for September 2018 rose by 0.7% to 120.8 (provisional) from 120.0 (provisional) for the previous month. The annual rate of inflation, based on monthly WPI, stood at 5.13% (provisional) for September 2018 (over September 2017) as compared to 4.53% (provisional) for the previous month and 3.14% during the corresponding month of the previous year, Ministry of Commerce & Industry said in a statement during trading hours today, 15 October 2018.

India's industrial production (base year 2011-12=100) increased at moderate pace of 4.3% in August 2018, compared with 6.5% growth recorded in July 2018. The industrial production growth for July 2018 has been revised marginally downwards from 6.6% increase reported provisionally.

The all-India general CPI inflation rose marginally to 3.77% in September 2018 (new base 2012=100), compared with 3.69% in August 2018. The corresponding provisional inflation rate for rural area was 3.34% and urban area 4.31% in September 2018 as against 3.41% and 3.99% in August 2018. The core CPI inflation declined to 5.82% in September 2018 compared with 5.95% in August 2018.

Overseas, European stocks were trading lower Monday, as concerns over Brexit talks, a potential slowdown in the Chinese economy and higher US borrowing costs limited investor appetite.

Asian shares were trading lower as worries over US-China trade disputes, a possible slowdown in the Chinese economy and higher US borrowing costs tempered optimism despite a rebound in global equities late last week.

US stocks ended higher on Friday, with equities rebounding from a multi-day rout that slashed 1,400 points from the Dow Jones Industrial Average at its worst and left the Nasdaq on the precipice of a correction.

In the latest economic data, import prices rose 0.5% in September. Separately, an index of consumer sentiment fell to 99 from a previous reading of 100.1.

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