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Indices sink in negative zone

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Stocks reversed initial gains to sink in negative zone in morning trade. At 10:25 IST, the barometer index, the BSE Sensex, was down 67.96 points or 0.19% at 35,445.75. The index was down 24.55 points or 0.23% at 10,647.70.

Domestic stocks nudged higher in early trade as buying demand resumed in index pivotals after a two-day slide.

On the macro front, the Nikkei Services PMI data for December 2018 will be announced today, 4 January 2019.

The BSE Mid-Cap index was off 0.22%. The BSE Small-Cap index was off 0.37%.

The market breadth, indicating the overall health of the market, turned negative from positive. On the BSE, 779 shares rose and 1075 shares fell. A total of 106 shares were unchanged.

(down 2.65%), (down 2.1%), (down 2.07%), (down 1.11%) and (down 0.98%) edged lower from the Sensex pack.

(up 2.47%), (up 1.58%), (up 1.01%), (up 0.98%) and (up 0.74%) edged higher from the Sensex pack.

Industries (Sun Pharma) fell 0.54%. Sun Pharma said that its arm completed the acquisition of 100% stake in Japan-based Pola Pharma. The announcement was made after market hours yesterday, 3 January 2019.

On 26 November 2018, Sun Pharma announced that it entered into a definitive agreement to acquire Pola Pharma Inc., a Japanese company engaged in research and development, manufacture, sale and distribution of branded and in The portfolio of Pola Pharma primarily comprises The announcement was made after market hours yesterday, 3 January 2019.

rose 0.48%. said it has emerged as winner of the competitive bidding process conducted by Distribution Company Limited (MSEDCL) for appointment of input based distribution franchisee for distribution of in Shil, Mumbra & Kalwa sub-divisions under Thane Urban Circle, for a period of 20 years. The announcement was made after market hours yesterday, 3 January 2019.

Overseas, Asian stocks were mixed after a on Wall Street. US stocks declined yesterday, 3 January 2019 after a factory gauge dropped the most in a decade and cut its sales outlook.

slashed its quarterly revenue forecast for the first time in more than 15 years Wednesday evening, in a move that the maker's chief executive, Tim Cook, said was prompted by signs of weakness in the world's second-largest economy

On the data front, the Institute for Supply Management's fell to 54.1% in December, down from 59.3% the month before.

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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, January 04 2019. 10:41 IST
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