Key indices edge lower in early trade

Key benchmark indices edged lower in early trade tracking weakness in Asian markets. At 9:18 IST, the barometer index, the S&P BSE Sensex was down 60.63 points or 0.23% at 26,843.48. The 50-unit CNX Nifty was off 9.25 points or 0.11% at 8,134.35.

In overseas stock markets, Asian stocks edged lower today, 13 October 2015. US stocks eked out small gains yesterday, 12 October 2015, amid caution ahead of the earnings season.

Closer home, the market breadth indicating the overall health of the market was strong. On BSE, 528 shares rose and 277 shares declined. A total of 44 shares were unchanged. The BSE Mid-Cap index was up 0.14%. The BSE Small-Cap index was up 0.15%. Both these indices outperformed the Sensex.

TCS rose 0.31% at Rs 2,600.45. The company announces its Q2 September 2015 earnings today, 13 October 2015.

Hero MotoCorp (HMCL) fell 0.5% at Rs 2,535. The company after market hours yesterday, 12 October 2015 announced that it has launched the New Splendor PRO, the flagship bike of the iconic Splendor franchise, with youthful new design and bold styling. Attractively priced at Rs 46,850 ex-showroom Delhi, the new Splendor PRO will go on sale at dealerships across the country, from 13 October 2015, the first day of the auspicious Navratra, which marks the beginning of the festive season. HMCL also said that priced at Rs 49,500 ex-showroom Delhi, the retail sales of Hero's new scooter Maestro Edge, the first of the products developed on Hero's own in-house technology will also commence from 13 October 2015.

Among macro economic data, latest data showed that the all-India general CPI inflation increased to 4.4% in September 2015, compared with 3.7% reading in August 2015. The corresponding provisional inflation rate for rural area was 5% and urban area 3.6% in September 2015 as against 4.5% and 2.8% in August 2015. The core CPI inflation rose to 4.1% in September 2015 from 3.9% in August 2015.

Another data showed that India's Index of Industrial Production (IIP) accelerated to 34-months high of 6.4% in August 2015 over a year ago compared with the revised growth of 4.1% in July 2015. The favourable base effect has boosted the IIP growth in August 2015, as the IIP growth was subdued at 0.5% in August 2014.

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