Mid-Cap, Small-Cap indices decline

Key benchmark indices were trading with small gains in afternoon trade. At 13:20 IST, the barometer index, the S&P BSE Sensex, was up 52.96 points or 0.16% at 33,756.55. The Nifty 50 index was up 9.25 points or 0.09% at 10,369.65. Firmness in Asian stocks supported gains on the domestic bourses. Indices staged a comeback after prior three-day fall.

Trading for the day began on a positive note as domestic stocks logged modest gains in early trade. Stocks trimmed gains in morning trade. Indices hovered in positive zone in mid-morning trade. They once again pared gains and were trading with small gains in afternoon trade after regaining some strength in early afternoon trade.

The S&P BSE Mid-Cap index was off 0.54%. The S&P BSE Small-Cap index was off 0.4%. Both these indices underperformed the Sensex.

The market breadth, indicating the overall health of the market, was weak. On the BSE, 1,588 shares fell and 970 shares rose. A total of 138 shares were unchanged. Breadth was strong in early trade.

Auto stocks saw mixed trend. Mahindra & Mahindra (M&M) was up 0.07%, Hero MotoCorp 0.09%, Maruti Suzuki India 0.32%, Eicher Motors 1.03%, Escorts 0.55%, and SML Isuzu 0.34%. Bajaj Auto was down 0.7%, Ashok Leyland 0.04%, Tata Motors 1.29%, and TVS Motor Company declined 2.52%.

Capital goods stocks were also mixed. L&T was up 0.12%, ABB India 0.43%, and Siemens gained 0.45%. BEML was down 1.26%, Bharat Electronics 0.72%, Havells India 0.88%, Thermax 0.64%, and Bharat Heavy Electricals dropped 0.21%.

Overseas, most Asian stocks rose in choppy trading. Markets in China remained closed for the Lunar New Year holiday and will reopen tomorrow, 22 February 2018. Japanese manufacturing activity expanded at a slower pace in February as growth of new export orders slowed due to the yen's appreciation. The Flash Markit/Nikkei Japan Manufacturing Purchasing Managers Index (PMI) fell to a seasonally adjusted 54 in February from a final 54.8 in January.

US stocks snapped a six-day winning streak yesterday, 20 February 2018 with the Dow and S&P 500 weighed down by a steep loss for Walmart as investors also watched climbing bond yields, which could make equities less attractive at current levels.

The US Federal Reserve will today, 21 February 2018 release minutes of its January 30-31 meeting, Janet Yellen's last as chair, where officials kept the rate unchanged.

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