Market trades lower

Key benchmark indices hovered in negative terrain in early afternoon trade. At 12:18 IST, the barometer index, the S&P BSE Sensex, was down 12.38 points or 0.05% at 26,800.40. The Nifty was down 5.70 points or 0.07% at 8,214.20.

The market breadth, indicating the overall health of the market, was negative. On BSE, 1,243 shares fell and 1,022 shares rose. A total of 173 shares were unchanged. The BSE Mid-Cap index was currently up 0.02%, outperforming the Sensex. The BSE Small-Cap index was currently down 0.07%. The decline in this index was higher than the Sensex's decline in percentage terms.

In the overseas market, most Asia markets were trading higher today, 22 June 2016. US stocks closed slightly higher yesterday, 21 June 2016, after trading within a narrow range after Federal Reserve Chairwoman Janet Yellen cautioned that the UK leaving the European Union (EU) posed a risk while new polls showed support for the "stay camp" growing. In her testimony to the Senate Banking Committee, Yellen said a victory for the "leave camp" in this week's UK referendum on membership in the EU would pose a significant risk to the US economy and global financial market stability, and reiterated the cautious approach to raising interest rates that the Federal Open Market Committee signaled last week when it stood pat on US interest rates.

The key event in the UK and Europe this week is the Brexit referendum tomorrow, 23 June 2016, where British voters will decide whether the country should remain a member of the EU or leave it.

Capital goods stocks were mixed. Praj Industries (down 2.61%), Punj Lloyd (down 2.6%), Suzlon Energy (down 1.98%), Bharat Electronics (down 1.29%), Jindal Saw (down 0.91%), SKF India (down 0.64%), BEML (down 0.54%), Reliance Defence and Engineering (down 0.52%), Havells India (down 0.39%), Thermax (down 0.34%), Siemens (down 0.27%), AIA Engineering (down 0.25%) and ABB India (down 0.16%), edged lower. Bharat Heavy Electricals (up 0.21%), Crompton Greaves (up 0.28%), ALSTOM India (up 0.69%), Alstom T&D India (up 0.85%) and Lakshmi Machine Works (up 1.35%), edged higher.

Engineering & construction major L&T was up 0.31% to Rs 1,499.40. The stock hit a high of Rs 1,502 and a low of Rs 1,491.50 so far during the day.

Pharmaceutical stocks were mixed. Dr Reddy's Laboratories (up 2.26%), Piramal Enterprises (up 2.23%), IPCA Laboratories (up 1.24%), Glenmark Pharmaceuticals (up 1.14%), Alkem Laboratories (up 0.79%), Aurobindo Pharma (up 0.64%), Lupin (up 0.60%), GlaxoSmithKline Pharmaceuticals (up 0.27%), Cipla (up 0.04%) and Cadila Healthcare (up 0.03%), edged higher. Sun Pharmaceutical Industries (down 0.26%), Divi's Laboratories (down 0.42%), Biocon (down 0.43%), Wockhardt (down 0.75%) and Strides Shasun (down 1.12%), edged lower.

Powered by Capital Market - Live News