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Benchmarks languish in negative terrain

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Key benchmark indices continued to languish in negative zone in mid-morning trade. At 11:15 IST, the barometer index, the S&P was down 92.72 points or 0.28% at 32,849.15. The 50 index fell 31.20 points or 0.31% at 10,155.40.

Key indices opened on a lower note amid weak global cues. Later, indices continued to languish in negative zone so far. Data showing widening of India's trade deficit in October also dampened investor sentiment.

Among secondary indices, the S&P Mid-Cap index rose 0.09%, outperforming the The S&P Small-Cap index lost 0.1%. The decline in this index was lower than the Sensex's slide in percentage terms.

The breadth, indicating the overall health of the market, was negative. On BSE, 1,348 shares declined and 960 shares rose. A total of 119 shares were unchanged.

Telecom and telecom tower infrastructure stocks declined. Reliance Communications (down 2.16%), Bharti Airtel (down 0.56%) and Bharti Infratel (down 0.44%) edged lower. Idea Cellular (up 1.95%) advanced.

Cement stocks were mixed. Ambuja Cements (up 1.62%), Shree Cement (up 0.95%) and ACC (up 0.88%) gained. UltraTech Cement (down 1.38%) and Grasim Industries (down 2%) declined.

Indiabulls Real Estate declined 2.32% at Rs 217.30 after consolidated net profit fell 30.3% to Rs 93.90 crore on 1.5% rise in net sales to Rs 721.58 crore in Q2 September 2017 over Q2 September 2016. The result was announced after market hours yesterday, 14 November 2017.

On the macro front, data released by the government after market hours yesterday, 14 November 2017 showed that India's trade deficit widened to $14.01 billion in October 2017 as against the deficit of $11.13 billion during October 2016. Exports fell 1.1% in October while imports grew by 7.6%.

Overseas, Asian stocks edged lower with energy-related players in the region falling on weakening oil prices. Among economic data, foreign direct investment in China's non-financial sectors grew 1.9% year-on-year between January and October to 678.7 billion yuan ($102.19 billion), latest data from the Ministry of Commerce showed.

US stocks fell yesterday, 14 November 2017 as concerns about a potential global economic slowdown and US tax reform dampened investor sentiment.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, November 15 2017. 11:16 IST