Volatility continued in afternoon trade as key benchmark indices trimmed losses after extending fall to hit fresh intraday low in afternoon trade. At 13:15 IST, the barometer index, the S&P BSE Sensex, was down 142.08 points or 0.56% at 25,199.78. The Nifty 50 index was down 46.55 points or 0.6% at 7,691.85. A sharp decline in European stocks ahead of release of the closely-watched US jobs data which could reveal more about the state of health of the US economy dampened sentiment on domestic bourses.
The Sensex rose 13.08 points, or 0.05% at the day's high of 25,354.94 in morning trade. The index fell 205.66 points, or 0.81% at the day's low of 25,136.20 in afternoon trade, its lowest level since 30 March 2016. The Nifty 50 index rose 1.75 points, or 0.02% at the day's high of 7,740.15 in morning trade. The index fell 62.95 points, or 0.81% at the day's low of 7,675.45 in afternoon trade, its lowest level since 30 March 2016.
The market breadth indicating the overall health of the market was strong. On BSE, 1,451 shares rose and 825 shares fell. A total of 108 shares were unchanged. The BSE Mid-Cap index was currently down 0.03%. The fall in this index was lower than Sensex's decline in percentage terms. The BSE Small-Cap index was currently up 0.61%, outperforming the Sensex.
In the overseas market, European markets were sharply lower ahead of release of the closely-watched US jobs data which could reveal more about the state of health of the US economy. Asian stocks tumbled today, 1 April 2016, as investors began the new quarter in a cautious mood, with Japanese equities leading losses amid a slump in corporate sentiment. Metals rose after a gauge of Chinese manufacturing expanded for the first time since July. US stocks closed lower yesterday, 31 March 2016, but still had one of their best months since October as market sentiment stabilized on a more dovish Federal Reserve.
IT stocks declined. TCS (down 2.84%), Wipro (down 0.25%), Oracle Financial Services Software (down 0.49%), Tech Mahindra (down 2.13%), and MphasiS (down 2.16%) declined. HCL Technologies rose 0.71%.
Index heavyweight and software major Infosys fell 1.41% to Rs 1,201.30. The stock hit high of Rs 1,221.80 and low of Rs 1,200 in intraday trade. Infosys is set to announce its Q4 March 2016 results on 15 April 2016.
Mahindra & Mahindra (M&M) fell 1.37%. M&M during market hours today, 1 April 2016 announced that its total tractor sales rose 20% to 14,682 units in March 2016 over March 2015. Domestic sales rose 34% to 13,931 units in March 2016 over March 2015. Exports declined 60% to 751 units in March 2016 over March 2015.
Eicher Motors shed 0.38%. The company during market hours today, 1 April 2016 said that total sales of motorcycles rose 52% to 51,320 units in March 2016 over March 2015. Eicher Motors is one of the four stocks that entered the Nifty 50 index with effect from today, 1 April 2016.
Telecom stocks were mixed. Bharti Airtel (down 3.73%) and Idea Cellular (down 2.55%) declined. Tata Teleservices (Maharashtra) (up 1.51%), MTNL (up 1.13%) and Reliance Communications (up 0.6%) rose.
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