Market ends a tad above the flat line

Key benchmark indices ended with marginal gains after a volatile trading session. The barometer index, the S&P BSE Sensex, rose 8.18 points or 0.02% to settle at 35,216.32. The Nifty 50 index rose 2.30 points or 0.02% to settle at 10,717.80.

The market breadth, indicating the overall health of the market, was negative. Among secondary barometers, the BSE Mid-Cap index was off 0.10%, underperforming the Sensex. The BSE Small-Cap index was up 0.10%, outperforming the Sensex.

Among the sectoral indices on BSE, the S&P BSE Bankex (up 1.32%), the S&P BSE Realty index (up 1.06%), the S&P BSE Oil & Gas index (up 0.36%) outperformed the Sensex. The S&P BSE Capital Goods index (down 0.85%), the S&P BSE Consumer Durables index (down 0.81%), the S&P BSE Teck index (down 0.57%) underperformed the Sensex.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 67.07, compared with closing of 67.1350 during the previous trading session.

Overseas, European stocks were mostly lower as investors awaited critical news surrounding the Iran nuclear accord. Asian markets settled higher following firm leads from Wall Street. China's Shanghai Composite rose 0.79%. China's April exports rose 12.9% from a year earlier, rebounding from a drop in March, while imports grew 21.5%, both growing much faster than expected despite worries over an escalating trade dispute with the United States. That left the country with a trade surplus of $28.78 billion for the month, data showed on Tuesday, 8 May 2018.

US stock market settled higher on Monday, but well off the peak of the day, as energy shares pulled back following a late-afternoon tweet from President Donald Trump indicated that a decision was imminent on whether the US would decertify a 2015 Iran nuclear pact.

In global commodities markets, Brent crude oil futures edged lower. Brent for July 2018 settlement was off 65 cents at $75.52 a barrel.

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