Market cuts initial losses

Domestic stocks cut initial losses triggered by negative Asian stocks. At 9:28 IST, the barometer index, the S&P BSE Sensex, was down 18.60 points or 0.05% at 35,451.75. The Nifty 50 index was down 13.75 points or 0.13% at 10,748.70.

The S&P BSE Mid-Cap index was down 0.12%. The S&P BSE Small-Cap index was down 0.09%. Both these indices underperformed the Sensex.

The market breadth, indicating the overall health of the market, was negative. On the BSE, 572 shares rose and 766 shares fell. A total of 53 shares were unchanged.

Overseas, Asian stocks fell as investors continued to worry about an escalating exchange of trade and investment restrictions, triggered by the Trump administration. US stocks declined yesterday, 25 June 2018 as President Donald Trump's threats of more protectionism against major partners were met with Chinese and European vows of retaliation.

Back home, Coal India (up 1.45%), Asian Paints (up 0.9%) and M&M (up 0.84%) edged higher from the Sensex pack.

Oil India (OIL) rose 0.62% after the company made its second hydrocarbon discovery in the onland KG Basin NELP VI Block: KG-ONN-2004/1 in May 2018 at well Thanelanka-l in Andhra Pradesh. The announcement was made after market hours yesterday, 25 June 2018.

Jet Airways (India) rose 0.97% after the company entered into another agreement with The Boeing Company for purchase of an additional 75 Boeing 737 MAX Aircraft. The announcement was made after market hours yesterday, 25 June 2018.

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