Market dropped into the negative zone from positive zone in morning trade amid lack of positive global cues. At 10:20 IST, the barometer index, the S&P BSE Sensex was down 68.88 points or 0.22% at 31,069.33. The Nifty 50 index lost 30.05 points or 0.31% at 9,544.90.
The S&P BSE Mid-Cap index declined 0.9%. The S&P BSE Small-Cap index lost 0.93%. The decline in both the indices was higher than the Sensex's decline in percentage terms.
The breadth, indicating the overall health of the market, was weak. On the BSE, 1,439 shares declined and 623 shares rose. A total of 94 shares were unchanged.
Realty stocks edged lower. Prestige Estates Projects (down 2.93%), Oberoi Realty (down 2.9%), D B Realty (down 1.96%), DLF (down 1.98%), HDIL (down 0.47%), Indiabulls Real Estate (down 0.56%) and Godrej Properties (down 1.33%) declined. Sobha (up 0.05%) and Unitech (up 4.55%) edged higher.
Telecom stocks edged higher. Reliance Communications (up 2.12%), Idea Cellular (up 1.2%), Bharti Airtel (up 0.7%) and Bharti Infratel (up 0.23%) gained.
L&T lost 0.64%. The company said its construction division has won orders worth Rs 2552 crore across various business segments. The announcement was made during market hours today, 27 June 2017.
Apollo Tyres lost 2.21% after the stock turned ex-dividend today 27 June 2017, for dividend of Rs 3 per share for the year ended 31 March 2017. Before turning ex-dividend, the stock offered a dividend yield of 1.21% based on the closing price of Rs 247 on Friday, 23 June 2017.
Overseas, Asian stocks witnessed mixed trend as investors watched for signals from central bankers' speeches. Federal Reserve Chair Janet Yellen is due to speak in London today, 27 June 2017.
US equities closed mixed yesterday, 26 June 2017, as a rise in the financial sector helped offset losses from large-cap technology stocks.
The European Central Bank (ECB) chief Mario Draghi yesterday, 26 June 2017, defended the ECB's easy monetary policy. Draghi, speaking to university students in Lisbon, reportedly said super low rates create jobs, foster growth and benefit borrowers, ultimately easing inequality.
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