Strong market breadth

Volatility ruled the roost in afternoon trade as the key benchmark indices once again dipped in negative zone after regaining positive zone in early afternoon trade. At 13:21 IST, the barometer index, the S&P BSE Sensex, was down 39.84 points or 0.14% at 28,313.70. The Nifty 50 index was down 6.34 points or 0.07% at 8,709.25.

In overseas stock markets, European stocks were higher in early trade, shrugging off market jitters over central bank uncertainty and a renewed drop in oil prices. Asian shares declined today, 14 September 2016, bruised by a fall in oil prices on renewed worries about a supply glut and as investors grew nervous about the diminishing capacity of the world's major central banks to shore up economic growth. The US market edged lower yesterday, 13 September 2016, as equities suffered a sharp sell-off amid a slump in energy shares and uncertainty about the Federal Reserve's plans for monetary policy.

Back home, the market breadth, indicating the overall health of the market, was strong. On BSE, 1,622 shares rose and 906 shares fell. A total of 174 shares were unchanged. The BSE Mid-Cap index was currently up 0.73%. The BSE Small-Cap index was currently up 0.91%. Both these indices outperformed the Sensex.

Cement stocks rose. Ambuja Cements (up 1.07%), ACC (up 1.67%), UltraTech Cement (up 0.77%) and Shree Cement (up 0.26%) gained.

Grasim Industries was up 1.6% at Rs 4,700. Grasim has exposure to the cement sector through its holding in UltraTech Cement.

Telecom stocks gained. Bharti Airtel (up 0.6%), Idea Cellular (up 1.15%), Tata Teleservices (Maharashtra) (up 0.67%) and Reliance Communications (up 2.01%) rose. MTNL lost 3.06%.

Shares of Bharti Infratel rose 0.48%. Bharti Infratel is a provider of tower and related infrastructure and is a unit of Bharti Airtel.

On the economic front, the annual rate of inflation, based on monthly Wholesale Price Index (WPI), stood at 3.74% (provisional) for the month of August 2016 as compared to 3.55% (provisional) in July 2016 and -5.06% in August 2015. Build up inflation rate in the financial year so far was 4.45% compared to a build up rate of 0.23% in the corresponding period of the previous year. The data was announced during market hours today, 14 September 2016.

India's industrial production (IIP) fell 2.4% in July 2016 over July 2015. Industrial production expanded 2.1% in June 2016 over June 2015. The data was announced after market hours on Monday, 12 September 2016.

India's inflation data based on consumer price index (CPI) for August 2016 slowed to 5.05% in August 2016. CPI accelerated to 6.07% in July 2016 from 5.77% in June 2016. The data was announced after market hours on Monday, 12 September 2016.

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