Key equity indices extended losses and hit fresh intraday low in afternoon trade. At 13:17 IST, the barometer index, the S&P BSE Sensex, was down 257.69 points or 0.72% at 35,399.01. The Nifty 50 index was down 69.20 points or 0.65% at 10,592.35. The Nifty slipped below 10,600 mark.
Domestic stocks were trading lower in early trade on negative Asian stocks. A bout of volatility was seen in morning trade as fresh selling derailed a brief intraday recovery. Stocks hovered with small losses in mid-morning trade.
The S&P BSE Mid-Cap index was down 0.05%. The S&P BSE Small-Cap index was down 0.30%.
The market breadth, indicating the overall health of the market, was negative. On the BSE, 971 shares rose and 1330 shares fell. A total of 142 shares were unchanged.
Sun Pharmaceutical Industries (up 2.34%), State Bank of India (up 1.12%), Bajaj Auto (up 1.02%), Tata Motors (up 0.87%), Asian Paints (up 0.78%) and Bharti Airtel (up 0.75%), were the major Sensex gainers.
Yes Bank (down 1.71%), Reliance Industries (down 1.68%), Power Grid Corporation of India (down 1.33%), Infosys (down 1.16%), Coal India (down 0.76%), Larsen & Toubro (down 0.48%) and HDFC Bank (down 0.42%), were the major Sensex losers.
HDFC was down 1.18% ahead of its October-December 2018 quarterly result today, 29 January 2019.
Axis Bank was up 0.05% ahead of its October-December 2018 quarterly result today, 29 January 2019.
Bajaj Finance was down 0.42% ahead of its October-December 2018 quarterly result today, 29 January 2019.
HCL Technologies was down 0.43% ahead of its October-December 2018 quarterly result today, 29 January 2019.
Mahindra & Mahindra (M&M) was up 0.06%. Mahindra's Truck and Bus Division (MTB), a part of the Mahindra Group, announced during trading hours today, 29 January 2019, the commercial launch of the FURIO, its brand-new range of Intermediate Commercial Vehicles (ICVs) with an unprecedented guarantee of More Profit or Truck Back. FURIO marks the company's entry into the ICV segment and is set to make Mahindra a full range commercial vehicle player. To be available across India from today, FURIO prices start at Rs 17.45 lakh for the FURIO12 19ft HSD variant and Rs 18.10 lakh for the FURIO14 19ft HSDvariant (ex-showroom Pune).
Overseas, Asian shares edged lower on Tuesday as prospects for a long-awaited U.S-China trade deal was dealt another blow after the United States leveled sweeping criminal charges against China's telecom giant Huawei. The US Justice Department unsealed indictments against China's top telecom equipment maker, Huawei, accusing it of bank and wire fraud to evade Iran sanctions and conspiring to steal trade secrets from T-Mobile US Inc.
US stocks closed lower Monday in the wake of disappointing earnings and Nvidia Corp. Investors turned cautious at the start of a busy week packed with earnings, economic data, a Federal Reserve meeting and a new round of U.S-China trade talks.
On the data front, the Federal Reserve of Chicago's national activity index rose to 0.27 in December, up from 0.21 in November. Growth in Texas manufacturing activity accelerating in January, according to the Federal Reserve Bank of Dallas. It's monthly manufacturing index rose from 7.3 to 14.5.
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