Shares slide at opening bell on weak global cues

Key benchmark indices were trading lower in early trade, tracking weak global cues. At 9:20 IST, the barometer index, the S&P BSE Sensex, was down 81.54 points or 0.23% at 34,731.45. The Nifty 50 index was down 18.50 points or 0.18% at 10,463.70.

Among secondary barometers,the BSE Mid-Cap index was down 0.24%. The BSE Small-Cap index was down 0.23%.

The market breadth, indicating the overall health of the market, was negative. On BSE, 504 shares rose and 603 shares fell. A total of 44 shares were unchanged.

Overseas, stocks in Asia fell on the back of US stocks closing sharply lower Monday. In US, the Dow Jones Industrial Average tumbled 600 points as crude oil prices extended their retreat while a firmer US dollar also sparked worries about the competitiveness of US corporations in an increasingly challenging economic environment.

Back home, Coal India was up 1.12%. The company's consolidated net profit jumped 732.73% to Rs 3084.70 crore on 26.28% rise in total income to Rs 24209.33 crore in Q2 September 2018 over Q2 September 2017. The announcement was made after market hours yesterday, 12 November 2018.

Eicher Motors was down 2.31%. The company's consolidated net profit rose 5.93% to Rs 548.76 crore on 12.68% rise in total income to Rs 2579.29 crore in Q2 September 2018 over Q2 September 2017. The announcement was made after market hours yesterday, 12 November 2018.

Aurobindo Pharma was down 0.31%. The company's consolidated net profit dropped 21.73% to Rs 611.43 crore on 7.43% rise in total income to Rs 4777.90 crore in Q2 September 2018 over Q2 September 2017. The announcement was made after market hours yesterday, 12 November 2018.

Aurobindo Pharma's wholly owned subsidiary, Aurobindo Pharma USA Inc., USA, has entered into an agreement to acquire a product under development and related assets from 'Advent Pharmaceuticals Pty Ltd., Australia, through AuroScience Pty, Melbourne, a 100% subsidiary of Aurobindo Pharma USA Inc., USA. The announcement was made after market hours yesterday, 12 November 2018.

Tata Motors was down 2.18%. Tata Motors Group global wholesales in October 2018, including Jaguar Land Rover, were at 1,09,597 units, higher by 6%, as compared to October 2017. The announcement was made after market hours yesterday, 12 November 2018.

NBCC (India) was up 0.30%. The company has received letter of appointment from Ministry of AYUSH, Govt. of India for Planning, Designing, & Construction of All India Institute of Ayurveda, Yoga and Naturopathy (AIIAY&N) at Goa wherein NBCC will work as Project Management Consultant. The estimated cost of project is Rs 260 crore (approx). The announcement was made after market hours yesterday, 12 November 2018.

On the economic front, India's industrial production grew 4.5% in September compared with the upward revised 4.7% in August, data released by the statistics office showed. August growth had initially been estimated at 4.3%.

Inflation as measured by the Consumer Price Index stood at 3.31% in October compared to 3.70% in September, showed government data released on Monday.

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