Market turns volatile

Volatility ruled the roost in morning trade as the key benchmark indices trimmed almost entire intraday gains after staging a pullback from lower levels. At 10:25 IST, the barometer index, the S&P BSE Sensex, was up 24.97 points or 0.07% at 35,495.32. The Nifty 50 index was up 7.50 points or 0.07% at 10,769.95. FMCG stocks rose.

Domestic stocks cut initial losses triggered by negative Asian stocks.

The S&P BSE Mid-Cap index was down 0.21%. The S&P BSE Small-Cap index was down 0.47%. Both these indices underperformed the Sensex.

The market breadth, indicating the overall health of the market, was weak. On the BSE, 705 shares rose and 1256 shares fell. A total of 102 shares were unchanged.

Overseas, Asian stocks fell as investors continued to worry about an escalating exchange of trade and investment restrictions, triggered by the Trump administration. US stocks declined yesterday, 25 June 2018 as President Donald Trump's threats of more protectionism against major partners were met with Chinese and European vows of retaliation.

Back home, Tata Motors (down 2.36%), Reliance Industries (down 1.77%) and ICICI Bank (down 1.33%) edged lower from the Sensex pack.

FMCG stocks rose. Britannia Industries (up 1.41%), GlaxoSmithkline Consumer Healthcare (up 5.01%), Colgate-Palmolive (India) (up 0.36%), Dabur India (up 0.52%), Godrej Consumer Products (up 1.27%), Hindustan Unilever (up 0.55%), Marico (up 1.01%), Nestle India (up 0.25%), Tata Global Beverages (up 0.28%), Jyothy Laboratories (up 0.84%) and Bajaj Corp (up 0.16%) rose. Procter & Gamble Hygiene and Health Care (down 0.35%) fell.

Ratnamani Metals & Tubes rose 1.39% after the company said it received a domestic order for supply of welded carbon steel pipes valued at Rs 125.51 crore. Ratnamani Metals & Tubes said the order will be completed by March/April 2019. The announcement was made after market hours yesterday, 25 June 2018.

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