Realty stocks edge lower

Key benchmark indices continued to languish in negative terrain in mid-morning trade amid weak global cues. At 11:15 IST, the barometer index, the S&P BSE Sensex was down 99.10 points or 0.31% at 32,142.83. The Nifty 50 index fell 33.95 points or 0.34% at 10,052.65. Market sentiment was lacklustre amid geopolitical tensions in the wake of North Korea's missile launch in the direction of the east of Japan.

Among other indices, the S&P BSE Mid-Cap index fell 0.62%. The decline in this index was higher than the Sensex's fall in percentage terms. The S&P BSE Small-Cap index lost 0.31%, matching the Sensex's fall in percentage terms.

Overseas, 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.

Closer home, the breadth, indicating the overall health of the market, was weak. On the BSE, 1,357 shares declined and 853 shares advanced. A total of 113 shares were unchanged.

IT stocks advanced. Infosys (up 1.1%), Tech Mahindra (up 0.99%), TCS (up 0.28%), Oracle Financial Services Software (up 0.24%) and Persistent Systems (up 0.15%) edged higher. HCL Technologies (down 0.9%) edged lower.

Wipro rose 0.62% at Rs 285.65 after the company announced that it has been awarded a 7-year contract by Innogy SE to manage their data center and cloud services. Innogy SE is an established European energy company. The announcement was made before market hours today, 15 September 2017.

Separately, Wipro announced that it has joined The Linux Foundation as a Silver Member. The Linux Foundation is a nonprofit organization enabling mass innovation through open source technologies. Wipro has identified open source technologies as one of the strategic client themes to drive transformation across the enterprise. The announcement was made after market hours yesterday, 14 September 2017.

Realty stocks declined. Godrej Properties (down 1.81%), Indiabulls Real Estate (down 1.8%), HDIL (down 1.1%), Prestige Estates Projects (down 1.03%), DLF (down 0.96%), Sobha (down 0.89%), D B Realty (down 0.78%) and Unitech (down 0.13%) edged lower. Oberoi Realty (up 0.82%) gained.

Gufic Biosciences rose 1.01% at Rs 70.10 after net profit rose 38.12% to Rs 3.54 crore on 7.77% rise in total income to Rs 64.5 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 14 September 2017.

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.

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