Key indices hovered in negative zone in mid-morning trade. At 11:21 IST, the barometer index, the S&P BSE Sensex, was down 72.99 points or 0.2% at 35,995.34. The Nifty 50 index was down 26 points or 0.24% at 10,836.55. Realty stocks gained. Telecom stocks saw mixed trend.
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.
The S&P BSE Mid-Cap index was up 0.04%. The S&P BSE Small-Cap index was up 0.31%.
The market breadth, indicating the overall health of the market, was positive. On the BSE, 1146 shares rose and 868 shares fell. A total of 95 shares were unchanged.
Maruti Suzuki India fell 0.17% after the company said that its total sales fell 1.3% to 1.28 lakh units in December 2018 over December 2017. Maruti Suzuki India said total domestic sales rose 1.8% to 1.21 lakh units, while total exports declined 36.4% to 6,859 units in December 2018 over December 2017. The announcement was made during trading hours today, 1 January 2019.
Realty stocks gained. DLF (up 2.42%), Indiabulls Real Estate (up 2.35%), Housing Development and Infrastructure (up 1.14%), D B Realty (up 12.17%), Peninsula Land (up 4.63%), Sobha (up 2.19%), Godrej Properties (up 3.58%), Prestige Estates Projects (up 4.88%) and Oberoi Realty (up 2.07%) rose.
Telecom stocks saw mixed trend. Bharti Airtel (up 0.5%), MTNL (up 16.74%) and Tata Teleservices (Maharashtra) (up 0.5%) rose. Reliance Communications (down 0.83%) and Vodafone Idea (down 0.13%) fell.
UCO Bank rose 10.62%. UCO Bank announced that the Government of India conveyed its decision to invest Rs 3076 crore in the equity of the bank by way of preferential allotment. The bank said it received the amount on 31 December 2018. The announcement was made after market hours yesterday, 31 December 2018.
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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