Market falls in early trade on negative Asian stocks

Key benchmark indices edged lower in early trade on negative Asian stocks. At 9:23 IST, the barometer index, the S&P BSE Sensex, was down 94.33 points or 0.34% at 27,267.63. The 50-unit CNX Nifty was down 24.85 points or 0.3% at 8,235.70.

The market breadth indicating the overall health of the market was negative. On BSE, 625 shares fell and 592 shares rose. A total of 41 shares were unchanged. The BSE Mid-Cap index was up 0.03%. The index outperformed the Sensex. The BSE Small-Cap index was off 0.08%. The fall in the index was lower than Sensex's decline in percentage terms.

In overseas markets, mainland Chinese stocks lead Asian markets lower as investors awaited policy decisions by the Federal Reserve and the Bank of Japan later in the week. The US Federal Reserve's two-day meeting for deliberating on interest rate decision begins today, 27 October 2015 and the Bank of Japan's (BoJ) meeting on interest rate decision is scheduled on Friday, 30 October 2015. US stocks ended on a mixed note yesterday, 26 October 2015 as energy shares led decliners following a drop in oil prices.

HDFC (down 2.65%), ONGC (down 1.47%) and ITC (down 0.67%) edged lower from the Sensex pack.

Coal India rose 0.45%. Coal India said that two new coal mines with a total capacity to produce 6.75 million tonnes of coal per annum were inaugurated by the Minister of State (Independent Charge) for Power, Coal and New & Renewable Energy Piyush Goyal yesterday, 26 October 2015. The two new coal mines belong to Western Coalfields (WCL) and are situated in Nagpur district in Maharashtra. WCL is a wholly-owned subsidiary of Coal India.

Axis Bank fell 0.91% ahead of its Q2 result today, 27 October 2015.

Lupin dropped 2.31% ahead of its Q2 result today, 27 October 2015.

Maruti Suzuki India rose 1.07% ahead of its Q2 result today, 27 October 2015.

Vedanta shed 0.86% ahead of its Q2 result today, 27 October 2015.

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