Key indices edge lower in early trade

Key benchmark indices edged lower in early trade. At 9:16 IST, the barometer index, the S&P BSE Sensex was down 19.12 points or 0.06% at 30,939.13. The Nifty 50 index declined 12.25 points or 0.13% at 9,499.15.

The S&P BSE Mid-Cap index fell 0.35%. The S&P BSE Small-Cap index lost 0.44%. The decline for both the indices was higher than the Sensex's decline in percentage terms.

Overseas, Asian stocks edged lower tracking lower closing on the Wall Street overnight. US equities closed lower yesterday, 27 June 2017 amid losses in large-cap technology stocks, while a Senate vote delay raised heightened policy uncertainty.

Closer home, the breadth, indicating the overall health of the market, was weak. On the BSE, 704 shares declined and 334 shares rose. A total of 53 shares were unchanged.

Hero MotoCorp was up 0.32%. The company said that Life Insurance Corporation of India (LIC) sold 2.026% stake in the company. The transaction took place between 1 October 2015 and 21 June 2017. Post transaction, LIC holds 5.136% stake in Hero MotoCorp, compared with 7.162% stake held earlier. The announcement was made after market hours yesterday, 27 June 2017.

TCS declined 0.06%. The company announced that TMX Group awarded TCS, the implementation of a single, integrated technology platform for Canada's clearing and settlement businesses. The innovative platform, called TCS BaNCS for Market Infrastructure, will replace the legacy systems deployed by The Canadian Depository for Securities Limited (CDS) and Canadian Derivatives Clearing Corporation (CDCC), subject to regulatory approval where required. Technology integration across TMX Group's cash and derivatives clearing businesses is the next significant step in the company's evolution as a premier client-driven solutions provider to the Canadian and global capital markets. The announcement was made after market hours yesterday, 27 June 2017.

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