Market trades with small losses

Key equity benchmarks were trading with small losses in mid-morning trade. At 11:22 IST, the barometer index, the S&P BSE Sensex, was down 59.46 points or 0.17% at 34,753.53. The Nifty 50 index was down 15.90 points or 0.15% at 10,466.30. Sentiment was weak amid negative global cues. Most metal and realty shares declined.

Among secondary barometers, the BSE Mid-Cap index was down 0.94%. The BSE Small-Cap index was down 0.54%. Both these indices underperformed the Sensex.

The market breadth, indicating the overall health of the market, was negative. On BSE, 899 shares rose and 1277 shares fell. A total of 128 shares were unchanged.

Most metal shares declined. National Aluminium Company (down 4.03%), Jindal Steel & Power (down 3.7%), Hindalco Industries (down 1.44%), NMDC (down 1.4%), Steel Authority of India (down 1.3%), Vedanta (down 0.44%), JSW Steel (down 0.16%) and Hindustan Zinc (down 0.06%), edged lower. Tata Steel (up 0.07%) and Hindustan Copper (up 0.87%), edged higher.

Most realty shares declined. D B Realty (down 3.92%), Sunteck Realty (down 2.67%), Indiabulls Real Estate (down 2.18%), Prestige Estates Projects (down 2.07%), Peninsula Land (down 1.76%), Oberoi Realty (down 1.47%), Anant Raj (down 1.43%), DLF (down 1.4%), Housing Development and Infrastructure (HDIL) (down 0.94%), Mahindra Lifespace Developers (down 0.27%) and Godrej Properties (down 0.02%), edged lower. Omaxe (up 0.17%), Phoenix Mills (up 0.42%), Sobha (up 1.67%), Unitech (up 1.76%) and Parsvnath Developers (up 3.75%), edged higher.

Eicher Motors rose 0.79% after consolidated net profit rose 5.93% to Rs 548.76 crore on 12.68% rise in total income to Rs 2579.29 crore in Q2 September 2018 over Q2 September 2017. The announcement was made after market hours yesterday, 12 November 2018.

Royal Enfield's total revenue from operations rose 11% to Rs 2408 crore in Q2 September 2018 over Q2 September 2017. EBITDA rose 7% to Rs 729 crore. Profit after tax grew by 6% to Rs 549 crore. Royal Enfield sold 209,963 motorcycles in the quarter, registering a growth of 4% from 202,744 motorcycles sold in the same period last year. In the Commercial Vehicles (CV) segment, VE Commercial Vehicles (VECV) revenue from operations rose by 27% to Rs 2966 crore in Q2 September 2018 over Q2 September 2017. EBITDA grew by 24% to Rs 267 crore. Profit after tax rose by 49% to Rs 142 crore.

Coal India rose 0.85% after consolidated net profit jumped 732.73% to Rs 3084.70 crore on 26.28% rise in total income to Rs 24209.33 crore in Q2 September 2018 over Q2 September 2017. The result was announced after market hours yesterday, 12 November 2018.

On a consolidated basis, Coal India's production of coal rose to 256.47 million tonne in Q2 September 2018 from 231.88 million tonne in Q2 September 2017. Offtake of raw coal rose to 290.80 million tonne from 269 million tonne.

On the economic front, India's industrial production grew 4.5% in September compared with the upward revised 4.7% in August, data released by the statistics office showed. August growth had initially been estimated at 4.3%.

Inflation as measured by the Consumer Price Index stood at 3.31% in October compared to 3.70% in September, showed government data released on Monday.

Overseas, Asian shares were mixed on the back of US stocks closing sharply lower Monday. In US, the Dow Jones Industrial Average tumbled 600 points as crude oil prices extended their retreat while a firmer US dollar also sparked worries about the competitiveness of US corporations in an increasingly challenging economic environment.

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