Market opens lower

Key benchmark indices were trading lower in early trade. At 9:25 IST, the barometer index, the S&P BSE Sensex, was down 66.74 points or 0.20% at 32,802.98. The Nifty 50 index was down 15.50 points or 0.15% at 10,112.25.

Among secondary barometers,the BSE Mid-Cap index was down 0.17%. The decline in this index was lower than the Sensex's decline in percentage terms. The BSE Small-Cap index was down 0.28%. The decline in this index was higher than the Sensex's decline in percentage terms.

The market breadth, indicating the overall health of the market, was negative. On BSE, 850 shares fell and 590 shares rose. A total of 55 shares were unchanged.

Overseas, Asian shares were mixed as technology shares mirrored a sell-off in US tech companies.

In US, the Dow closed at a record as investors cheered the weekend passage of the Senate version of a sweeping overhaul of the US tax code. However, the S&P 500 and the Nasdaq finished lower as large-capitalization technology stocks took a beating. The Dow Jones Industrial Average added 0.2%. The S&P 500 shed 0.1%. The Nasdaq Composite Index fell 1.1%.

Back home, most metal shares declined. JSW Steel (down 0.75%), Steel Authority of India (down 0.71%), Hindalco Industries (down 0.67%), Hindustan Zinc (down 0.65%), Tata Steel (down 0.62%), Vedanta (down 0.62%), National Aluminium Company (down 0.38%), Hindustan Copper (down 0.27%) and Jindal Steel & Power (down 0.15%), edged lower. Bhushan Steel (up 0.45%) and NMDC (up 1.09%), edged higher.

Meanwhile, copper price edged higher in the global commodities markets. High Grade Copper for March 2018 delivery was currently up 0.08% at $3.0925 per pound on the COMEX.

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