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Benchmarks turn range bound

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Key benchmarks turned range bound in early afternoon trade. At 12:24 IST, the barometer index, the Sensex, was up 692.09 points or 2.04% at 34,693.24. The was up 215 points or 2.10% at 10,449.65. Sentiment was upbeat, backed by recovery in other Asian shares.

Among secondary barometers, the Mid-Cap was up 2.27%. The Small-Cap was up 2.41%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was strong. On BSE, 1895 shares rose and 503 shares fell. A total of 116 shares were unchanged.

Overseas, stocks rose on Friday, holding steady after a nine-day losing streak, but sentiment was frail after Wall Street shares crumbled and expectations of market volatility shot up to an eight-month high. Worries about the economic impact of a Sino-US trade war, a spike in US bond yields this week and caution ahead of earnings seasons are all cited as potential reasons behind the selloff, the biggest market rout since February.

US stocks extended losses to finish lower Thursday, as investors continued to fret over rising bond yields and the prospect of higher interest rates.

In the latest US economic data, jobless claims rose by 7,000 in the latest week, although they remain near multi-decade lows. Separately, the consumer-price index rose 0.1% in September. Core CPI, which excludes and energy, rose at the same pace.

Back home, rose. (up 5.11%), ACC (up 3.29%) and (up 2.13%), edged higher.

was up 0.67%. Grasim has exposure to cement sector through its holding in

Most telecom shares rose. (Maharashtra) (up 5.49%), Idea (up 3.62%), (up 2.03%) and MTNL (up 1.23%), edged higher. was down 0.09%.

Telecom tower infrastructure provider was up 4.71%.

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

First Published: Fri, October 12 2018. 12:22 IST