Positive market breadth

Domestic stocks hovered with modest losses in mid-afternoon trade in absence of global cues. At 14:19 IST, the barometer index, the S&P BSE Sensex, was down 97.39 points or 0.27% at 35,970.94. The Nifty 50 index was down 32.75 points or 0.3% at 10,829.80.

The Sensex was currently trading a tad below the psychological 36,000 level after sliding below that level in early trade. Trading for calendar 2019 began on a volatile note as the key benchmark indices reversed early gains to sink in negative zone.

Stocks extended fall and hit intraday low in morning trade. Key indices hovered in negative zone in afternoon trade.

The S&P BSE Mid-Cap index was off 0.31%. The S&P BSE Small-Cap index was up 0.14%.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 1245 shares rose and 1153 shares fell. A total of 137 shares were unchanged.

Mahindra & Mahindra (down 3.57%), IndusInd Bank (down 1.67%), Tata Steel (down 1.38%), NTPC (down 1.01%) and Hindustan Unilever (down 1%) were the major Sensex losers.

On the macro front, the index of eight core industries comprising 40.27% of the weight of items included in the Index of Industrial Production (IIP) has posted 3.5% growth in November 2018 over November 2017. Its cumulative growth during April to November 2018-19 stood at 5.1%.

Overseas, markets across Japan, China, Hong Kong, UK, US, France, South Korea, Singapore, Germany and Brazil, among others, are closed on account of New Year holiday. Cautious optimism over US-China trade talks helped the US stocks to end higher in the final trading session of the year on Monday in thin pre-holiday trading.

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