Market turns range bound

Key benchmark indices were trading in a narrow range in negative zone in afternoon trade. At 13:16 IST, the barometer index, the S&P BSE Sensex, was down 61.53 points or 0.21% at 29,865.81. The Nifty 50 index was down 21.55 points or 0.23% at 9,240.40. Market sentiment was subdued on negative global cues triggered by US firing dozens of cruise missiles into Syria.

The BSE Mid-Cap index rose 0.50%. The BSE Small-Cap index advanced 0.55%. Both these indices outperformed the Sensex.

The breadth, indicating the overall health of the market, was positive. On the BSE, 1,531 shares rose and 1,179 shares declined. A total of 141 shares were unchanged.

State-run NTPC rose 0.45% to Rs 168. The company announced that Unit#1 of 660 megawatts (MW) of Solapur Super Thermal Power Project has been commissioned. With this, the commissioned capacity of NTPC and NTPC Group has become 44,194 MW and 51,410 MW respectively.

Pharmaceutical shares were mixed. Sun Pharmaceutical Industries (down 2.35%), IPCA Laboratories (down 2.11%), Dr Reddy's Laboratories (down 1.42%), Lupin (down 1.39%), Aurobindo Pharma (down 0.78%), Piramal Enterprises (down 0.43%), Divi's Laboratories (down 0.42%), GlaxoSmithKline Pharmaceuticals (down 0.31%) and Strides Shasun (down 0.25%), edged lower. Cipla (up 0.10%), Alkem Laboratories (up 0.19%), Glenmark Pharmaceuticals (up 0.43%), Wockhardt (up 1.99%) and Cadila Healthcare (up 2.37%), edged higher.

Most FMCG shares rose. Bajaj Corp (up 2.05%), Colgate Palmolive (India) (up 1.15%), Godrej Consumer Products (up 1.07%), Marico (up 0.84%), Britannia Industries (up 0.36%), GlaxoSmithKline Consumer Healthcare (up 0.18%), Jyothy Laboratories (up 0.16%) and Nestle India (up 0.14%), edged higher. Dabur India (down 0.54%), Tata Global Beverages (down 0.56%), Hindustan Unilever (down 1.11%) and Procter & Gamble Hygiene & Health Care (down 1.42%), edged lower.

Real estate company Sobha rose 0.78% to Rs 406.30 after a large bulk deal of 40.15 lakh shares was executed on the scrip at Rs 415 per share in opening trade on BSE.

Overseas, European shares were trading lower in early trade as geopolitical tensions intensified after the US military struck a Syrian airfield near Homs and as investors exercised caution ahead of the non-farm payrolls report. US President Donald Trump said he ordered the missile strikes following the deadly chemical attack that took place earlier in the week.

Most Asian stocks edged lower. US equities closed well off session highs yesterday, 6 April 2017, after Trump said he's willing to act alone on North Korea if China does not step up.

Meanwhile, US fired dozens of cruise missiles into Syria. The missile strikes happened as President Donald Trump hosts Chinese President Xi Jinping at his Mar-a-Lago resort in Florida.

Powered by Capital Market - Live News