Key benchmark indices hovered near the flat line in afternoon trade. At 13:15 IST, the barometer index, the S&P BSE Sensex, was up 29.57 points or 0.09% at 32,215.98. The Nifty 50 index advanced 2.15 points or 0.02% at 10,081.45.
Among secondary barometers, the BSE Mid-Cap index rose 0.37%. The BSE Small-Cap index advanced 0.57%. Both these indices outperformed the Sensex.
The breadth, indicating the overall health of the market, was positive. On BSE, 1,241 shares rose and 1,229 shares fell. A total of 133 shares were unchanged.
Auto stocks were mixed. Eicher Motors (down 0.88%), Mahindra & Mahindra (down 0.72%), Maruti Suzuki India (down 0.59%) and Bajaj Auto (down 0.35%) edged lower. Tata Motors (up 0.82%), Hero MotoCorp (up 0.33%), TVS Motor Company (up 0.16%) and Ashok Leyland (up 0.04%) edged higher.
FMCG stocks also witnessed a mixed trend. Marico (down 1.89%), Dabur India (down 0.49%), Nestle India (down 0.33%), Colgate-Palmolive (India) (down 0.17%) and Hindustan Unilever (down 0.11%) declined. Emami (up 0.87%), GlaxoSmithkline Consumer Healthcare (up 0.63%), Tata Global Beverages (up 0.53%), Procter & Gamble Hygiene and Health Care (up 0.34%) and Britannia Industries (up 0.11%) gained.
Apex Frozen Foods was locked at 5% upper circuit at Rs 309.80, with the stock extending recent strong rally post its debut on the bourses. Apex Frozen Foods had settled at Rs 209.85 on BSE, a premium of 19.91% over the issue price of Rs 175 on its debut on the stock exchanges on 4 September 2017. The stock has jumped 77.02% in nine sessions to its ruling price, from the issue price of Rs 175.
On macro front, the annual rate of inflation, based on monthly Wholesale Price Index (WPI), stood at 3.24% (provisional) for August 2017, compared with 1.88% (provisional) in July 2017 and 1.09% in August 2016. The data was announced during trading hours today, 14 September 2017.
Overseas, European stocks edged lower as investors assessed geopolitical developments and looked ahead to the Bank of England's latest policy decision. Asian stocks were mixed after disappointing economic data out of China. China's National Bureau of Statistics said the world's second-largest economy saw 6% annual growth in its industrial output in August, slower than 6.4% growth in July. Retail sales expanded 10.1% on year in August, compared with 10.4% in July. The data suggested that China's economy continued to cool.
Investors are waiting for the latest updates on the US economy ahead of the Federal Reserve meeting due next week. Later in the global day today, the US Labor Department is scheduled to release reports on consumer price for August and the number of people who applied for unemployment benefit last week.
US market edged higher overnight, but trading was subdued as investors searched for catalysts that could breathe new life into the rally.
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