Sensex clawbacks 33,000

Key benchmark indices trimmed intraday losses in early afternoon trade. At 12:15 IST, the barometer index, the S&P BSE Sensex, fell 113.54 points or 0.34% at 33,060.85. The Nifty 50 index dropped 34.75 points or 0.34% at 10,149.40. The Sensex reclaimed 33,000 level after falling below that level in intraday trade. Weakness in global stocks weighed on sentiment on the domestic bourses. Realty stocks were mostly lower. Power generation and power distribution stocks declined.

Key indices started the session on a negative note amid weakness in global stocks. Indices extended losses in morning trade and traded with modest losses in mid-morning trade. Key indices trimmed losses with the Nifty hitting intraday high in early afternoon trade.

Among secondary indices, the S&P BSE Mid-Cap index fell 0.18%, outperforming the Sensex. The S&P BSE Small-Cap index declined 0.39%, underperforming the Sensex.

The breadth, indicating the overall health of the market, was weak. On the BSE, 1,455 shares declined and 872 shares advanced. A total of 161 shares were unchanged.

Realty stocks were mostly lower. Unitech (down 2.79%), Prestige Estates Projects (down 2.48%), Sobha (down 1.79%), Indiabulls Real Estates (down 1.62%), DLF (down 0.77%) and HDIL (down 0.76%) edged lower. Oberoi Realty (up 4.85%), Godrej Properties (up 0.2%) and D B Realty (up 0.11%) edged higher.

Power generation and power distribution stocks declined. Adani Power (down 4.17%), Jaiprakash Power Ventures (down 1.79%), NTPC (down 1.78%), Reliance Power (down 1.33%), Power Grid Corporation of India (down 0.82%), JSW Energy (down 0.4%), Reliance Infrastructure (down 0.37%) and NHPC (down 0.36%) dropped. CESC (up 1.98%) and Tata Power Company (up 0.12%) gained.

Avanti Feeds rose 2.34% at Rs 2,244.15 after the company said that commercial production of the additional capacity of 1.75 lakh MT of shrimp feed plant at Bandapuram, West Godavari District, Andhra Pradesh was commenced on 19 March 2018. The announcement was made after market hours yesterday, 27 March 2018.

On the macro front, the total revenue received under Goods and Services Tax (GST) for the month of February 2018 (received in February/March upto 26 March) has been Rs 85174 crore. 1.05 crore taxpayers have been registered under GST so far till 25 March 2018.

Overseas, Asian stocks dropped tracking overnight slide on Wall Street. US stocks closed sharply lower yesterday, 27 March 2018, erasing earlier gains, as a decline in the broader tech sector brought the major indices down. Last week, reports emerged alleging that Cambridge Analytica, an analytics company, had gathered data from 50 million Facebook profiles without users' permission, raising concerns over data privacy.

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