Key benchmarks sharply pared losses in mid-afternoon trade. At 14:22 IST, the barometer index, the S&P BSE Sensex, was down 32.80 points or 0.08% at 39,724.01. The Nifty 50 index was down 7.90 points or 0.07% at 11,898.30.
Indices opened lower and slipped further as the session progressed. After hitting a fresh intraday low in early afternoon trade, benchmarks staged a smart recovery in mid-afternoon trade. Positive opening in European market improved investors sentiment. Chinese stocks recovered from early losses to end steady on Thursday on hopes Beijing will roll out further measures to boost the economy amid ongoing trade tussle with the US.
The BSE Mid-Cap index was down 0.38%. The BSE Small-Cap index was down 0.48%. Both these indices underperformed the Sensex.
The market breadth, indicating the overall health of the market, was weak. On BSE, 815 shares advanced and 1581 shares declined. A total of 135 shares were unchanged.
Most realty stocks witnessed selling. Peninsula Land (down 6.11%), Unitech (down 3.39%), D B Realty (down 2.44%), Anant Raj (down 2.14%), Sobha (down 0.75%), Oberoi Realty (down 0.65%), Sunteck Realty (down 0.46%), Phoenix Mills (down 0.31%), Omaxe (down 0.2%) and Prestige Estates Projects (down 0.08%), declined.
While, Mahindra Lifespace Developers (up 0.05%), DLF (up 0.27%), Housing Development and Infrastructure (HDIL) (up 0.52%), Godrej Properties (up 2.51%) and Indiabulls Real Estate (up 4.57%), advanced.
Capital Goods stocks were mixed. Suzlon Energy (down 3.57%), AIA Engineering (down 2.98%), Reliance Defence and Engineering (down 2.76%), Punj Lloyd (down 2.6%), Thermax (down 2.24%), Praj Industries (down 1.93%), Jindal Saw (down 1.07%), GE T&D India (down 1.05%), BEML (down 0.9%) and Lakshmi Machine Works (down 0.33%), declined. While, ABB India (up 0.21%), Havells India (up 0.22%), SKF India (up 0.29%), Siemens (up 0.61%), Crompton Greaves (up 0.79%), Bharat Heavy Electricals (up 0.81%), GE Power India (up 2.12%) and Bharat Electronics (up 2.24%), all increased.
Engineering and construction major L&T was up 0.71%.
Atul was down 0.59% at Rs 4,100 after hitting a 52-week high of Rs 4,160 in intraday today.
Sobha was down 0.76% at Rs 575.90 after hitting a 52-week high of Rs 585 in intraday today.
Titan Company was up 0.25% at Rs 1,288.70 after hitting a 52-week high of Rs 1292.75 in intraday today.
The yield on India's 10-year benchmark federal paper rose to 7.018% at 14:31 IST, compared with 7.012% at close in the previous trading session.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 69.485, compared with its close of 69.3475 during the previous trading session.
Crude oil prices rebounded Thursday amid reports of tanker explosions in the Gulf of Oman near the Iranian coastline. In the commodities market, brent crude for August 2019 settlement was up $1.76 at $61.73 a barrel. The contract decreased by $2.32 or 3.72% to settle at $59.97 a barrel during the previous trading session.
Overseas, European stocks were trading higher Thursday, amid a surge in telecom stocks on Germany's completion of its 5G mobile spectrum auction.
Asian market ended on a mixed note after most indices bounced back in late trade. China's Shanghai Composite ended up 0.05% on hopes Beijing will announce measures to boost the economy.
US stocks declined on Wednesday as market focus remained largely on global trade developments after President Donald Trump said that he was holding up a trade deal with China and had no interest in moving ahead unless Beijing agreed.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)