Market opens lower

Key benchmark indices were trading lower in early trade. At 9:20 IST, the barometer index, the S&P BSE Sensex, was down 57.42 points or 0.22% at 26,569.04. The Nifty 50 index was down 13.25 points or 0.16% at 8,172.55.

The market breadth, indicating the overall health of the market, was strong. On BSE, 851 shares rose and 335 shares fell. A total of 45 shares were unchanged. The BSE Mid-Cap index was currently up 0.12%. The BSE Small-Cap index was currently up 0.54%. Both these indices outperformed the Sensex.

Overseas, Asian stocks were shut for public holiday. US stocks fell on Friday, 30 December 2016, as investors took profits on some of 2016's highflying sectors, although major indexes posted strong annual gains and the Dow closed out its best year since 2013.

Maruti Suzuki India was down 0.71%. The company announced on Sunday, 1 January 2017 that total sales fell 1% to 1.17 lakh units in December 2016 over December 2015. Domestic sales fell 4.4% to 1.06 lakh units in December 2016 over December 2015. Exports rose 47.1% to 11,494 units in December 2016 over December 2015.

Eicher Motors was up 3.15%. The company announced on Sunday, 1 January 2017 that sale volume of VE Commercial Vehicles, an unlisted subsidiary of Eicher Motors fell 20.04% to 4,048 units in December 2016 over December 2015. Separately, Eicher Motors said that total motorcycles sales rose 42% to 57,398 units in December 2016 over December 2015.

Coal India was up 0.28%. The company announced before market hours today, 2 January 2017, that the coal production of the company and its subsidiaries was 96% of targeted production at 54.20 million tonnes in December 2016 and coal offtake was 98% of target at 51.46 million tonnes in December 2016.

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