Key indices trade a tad lower

Amid a divergent trend among various index constituents, key benchmark indices traded with small losses in morning trade. At 10:20 IST, the barometer index, the S&P BSE Sensex, was down 39.95 points or 0.16% at 24,452.44. The 50-unit Nifty 50 index was currently down 9.15 points or 0.12% at 7,428.60. The Sensex fell 91.87 points or 0.37% at the day's low of 24,400.52 in early trade, its lowest level since 22 January 2016. The barometer index rose 37.25 points or 0.15% at the day's high of 24,529.64 in early trade. The Nifty shed 28.15 points or 0.37% at the day's low of 7,409.60 in early trade, its lowest level since 22 January 2016. The index rose 9.05 points or 0.12% at the day's high of 7,446.80 at the onset of the trading session.

The market breadth indicating the overall health of the market was positive. On BSE, 1,018 shares gained and 800 shares fell. A total of 112 shares were unchanged. The BSE Mid-Cap index was currently down 0.05%. The BSE Small-Cap index was currently down 0.06%. The decline in both these indices was lower in percentage terms compared with the fall in the Sensex.

In overseas stocks markets, Asian stocks gained after the US Federal Reserve after the conclusion of a monetary policy meeting yesterday, 27 January 2016, indicated that it will be gradual in raising interest rates in the US amid global market turmoil. US stocks fell yesterday, 27 January 2016, after the Federal Reserve left the door open to a March rate increase despite acknowledging that US economic growth slowed since its last meeting in December 2015. The Fed held US interest rates unchanged as expected and said it is closely monitoring global economic and financial developments.

Shares of power generation and power distribution companies gained. Torrent Power (up 1.74%), Tata Power Company (up 0.16%), NTPC (up 0.63%), Adani Power (up 0.7%), Reliance Infrastructure (up 0.62%) and Reliance Power (up 0.2%) gained. NHPC fell 0.75%.

Power Grid Corporation of India gained 2.17% after the company reported 31.26% rise in net profit to Rs 1613.12 crore on 22.7% rise in total income to Rs 5504.83 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 27 January 2016.

Realty stocks were mixed. Sobha (up 0.17%), Indiabulls Real Estate (up 0.37%), and Unitech (up 0.35%) rose. DLF (down 0.78%), Housing Development & Infrastructure (HDIL) (down 0.14%), Oberoi Realty (down 1.24%), and Phoenix Mills (down 0.96%) edged lower.

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