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Indices sink in negative zone

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Key indices erased intraday gains and sink in negative zone in early afternoon trade. At 12:24 IST, the barometer index, the BSE Sensex, was down 53.59 points or 0.15% at 36,140.71. The index was down 23.80 points or 0.22% at 10,852.95. Shares of index heavyweight declined. Realty stocks gained. Sentiment was hit by lower-than-expected GDP data.

Domestic stocks opened on a firm note tracking upbeat Asian stocks and US index futures following a cease-fire on tariffs between and over the weekend. Stocks held firm in morning trade. Key benchmark indices trimmed gains in mid-morning trade.

The BSE Mid-Cap index was up 0.44%. The BSE Small-Cap index was up 0.26%.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 1194 shares rose and 1139 shares fell. A total of 133 shares were unchanged.

Overseas, Asian stocks and US index futures jumped following a cease-fire on tariffs between and at the Group of 20 meeting in over the weekend. Trading in US index futures indicated that the Dow could surge 501 points at the opening bell today, 3 December 2018.

US stocks ended higher Friday, as investors turned positive on the outlook for trade ahead of a meeting between the American and Chinese presidents.

and Chinese approved the deal on Saturday in It offers a reprieve from a planned increase in tariffs, scheduled for 1 January 2019, on $200 billion in Chinese goods exports to the US Tariffs were scheduled to rise to 25% from 10%. The postponement relies on progress in talks that both sides aim to complete in the next 90 days covering broader issues, including intellectual property protection.

On the data front, the MNI Chicago business barometer jumped 8 points to 66.4 in November to a 4 year high, ending a streak of three straight declines. The survey is often seen as a bellwether for the broader US

Back home, index heavyweight lost 1.41% to Rs 1,151.70.

Realty stocks gained. (up 5.46%), Unitech (up 0.48%), Sobha (up 3.3%), (up 5.21%), (up 0.73%), Estate (up 0.57%), Housing Development and Infrastructure (up 0.49%), and (up 4.51%) rose. (down 1.53%) fell.

rose 3.49% after the company said it entered into a 50-50 joint venture with South Korea's said the joint venture is being established for and selling interior and exterior parts, plastic moulded parts and accessories for the passenger and utility vehicles segment in a phased manner. The joint venture will introduce light-to-ultra-light, illuminated sliding sun visors and manufacture cargo screens used in SUVs and MUVs and also offer customized black out tapes and for automobile exterior protection and aesthetics. The announcement was made on Saturday, 1 December 2018.

On the macro front, operating conditions in strengthened for the third successive month in November, as healthier inflows of new orders encouraged companies to lift production and input buying to greater extents than in October, data released today, 3 December 2018 showed.

The Nikkei Purchasing Managers' Index (PMI) rose for the third consecutive month in November to 54 from 53.1 in October. The latest figure signalled the strongest improvement in the health of the sector in almost one year.

India's (GDP) rose 7.1% in July-September, down from 8.2% in the previous quarter though it still marked a comforting uptick compared to the previous year's 6.3% reading in the same quarter. The expanded 7.4% following 13.5% surge in the previous quarter while the agriculture sector grew 3.8% from 5.3% in the previous quarter. Trade, Hotel, Transport, Communication &Services related to rose 6.80%, almost matching the growth in previous quarter. Financial, Real Estate & Professional Services expanded 6.30%, easing slightly from a 6.52% in previous quarter. The data was released by the government after market hours on Friday, 30 November 2018.

The combined Index of stood at 134.8 in October, 2018, which was 4.8% higher as compared to the index of October, 2017. Its cumulative growth during April to October, 2018-19 was 5.4%. The comprise 40.27% of the weight of items included in the Index of Industrial Production (IIP). The data was released by the government after market hours on Friday, 30 November 2018.

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

First Published: Mon, December 03 2018. 12:34 IST