Metal and mining, sugar stocks edge lower

Key benchmark indices continued to trade with small losses in afternoon trade. At 13:25 IST, the barometer index, the S&P BSE Sensex was down 41.80 points or 0.13% at 32,200.13. The Nifty 50 index fell 21.40 points or 0.21% at 10,065.20. Market sentiment was lackluster amid geopolitical tensions in the wake of North Korea's missile launch in the direction of the east of Japan. Metal and mining stocks edged lower. Sugar stocks fell.

The Sensex lost 103.55 points or 0.32% at the day's low of 32,138.38 in morning trade. It rose 3.35 points or 0.01% at the day's high of 32,245.28 in early trade. The Nifty lost 42.95 points or 0.42% at the day's low of 10,043.65 in morning trade. It fell 2.70 points or 0.02% at the day's high of 10,083.90 in early trade.

Key indices opened the session lower on weak global cues. Later, indices hovered in negative terrain in a mostly range-bound trading so far.

Among other indices, the S&P BSE Mid-Cap index fell 0.28%. The S&P BSE Small-Cap index lost 0.03%.

The market breadth, indicating the overall health of the market, was weak. On the BSE, 1,461 shares declined and 964 shares advanced. A total of 148 shares were unchanged.

Metal and mining stocks edged lower. National Aluminium Company (down 1.55%), Hindustan Zinc (down 0.95%), Jindal Steel & Power (down 0.74%), Hindalco Industries (down 1.32%), NMDC (down 0.41%), Hindustan Copper (down 0.32%), Vedanta (down 1.72%), JSW Steel (down 0.47%), Tata Steel (down 0.39%) and Steel Authority of India (Sail) (down 0.32%) edged lower.

Copper edged lower in the global commodities market. High Grade Copper for December 2017 delivery was currently up 0.03% at $2.9585 per pound on the COMEX.

Sugar stocks fell. Rana Sugars (down 4.21%), Bajaj Hindusthan Sugar (down 1.41%), Balrampur Chini Mills (down 0.4%), Shree Renuka Sugars (down 0.96%), Sakthi Sugars (down 1.11%), Triveni Engineering & Industries (down 0.7%) and Dwarikesh Sugar Industries (down 0.47%) fell.

DQ Entertainment International surged 11.44% after the company announced the appointment of new licensing agents for its popular brand The Jungle Book. The announcement was made during market hours today, 15 September 2017.

The Jungle Book series will be represented for licensing & merchandising by The Licensing Group (TLG) in North America, CPL for Latin America & Mexico and CIMCA in Central America. While Sinecast, Turkey has been appointed as promotional partners for the brand in Turkey.

DQE's Jungle Book is a favorite brand among kids around the world. The first two seasons of The Jungle Book series were telecast on Discovery Kids USA, receiving excellent reviews and high viewership from children and families. The popular TV show airs in over 160 territories around the world and has more than 300 active licensees. Season 3 is currently in production for broadcast on Discovery Kids in early 2018.

The India Meteorological Department (IMD) in its weekly weather report said that for the country as a whole, cumulative rainfall during this year's monsoon upto 13 September has been 6% below the normal rainfall. The June-September southwest monsoon is critical for the country's agriculture because a considerable part of the country's farmland is dependent on the rains for irrigation.

Overseas, European shares edged lower in early trade as another missile launch by North Korea dented investors' appetite for riskier stocks. Asian stocks were mixed after North Korea launched a missile in the direction of the east. As per reports, the unidentified missile flew over Japan before landing 2,000 km east of Hokkaido. US equities closed mostly lower yesterday, 14 September 2017 after strong inflation data raised the possibility of tighter monetary policy from the Federal Reserve. However, the Dow index closed at its record high.

In the economic news, the US initial jobless claims fell by 14,000 to 284,000 from the previous week's unrevised level, figures released by the Labor Department yesterday, 14 September 2017 showed.

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