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Market breadth turns negative

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A bout of volatility was witnessed as key indices bounced back after hitting fresh intraday low in morning trade. At 10:29 IST, the barometer index, the Sensex, was up 77.93 points or 0.21% at 37,491.06. The index was up 9.80 points or 0.09% at 11,297.30.

Among secondary barometers, the Mid-Cap index was down 0.52%. The Small-Cap index was down 0.82%. Both these indices underperformed the Sensex.

The market breadth, indicating the overall health of the market, turned negative from positive. On BSE, 706 shares rose and 1365 shares fell. A total of 84 shares were unchanged.

Most FMCG shares rose. Nestle (up 2.92%), (up 2.90%), (up 2.83%), (up 2.20%), (up 1.54%), (up 1.33%), (up 1.24%), (up 0.76%) and (up 0.56%), edged higher. (down 0.16%), (down 0.62%) and (down 0.88%), edged lower.

Most declined. (down 3.34%), (down 2.13%), (down 1.59%), Steel Authority of (down 1.41%), (down 0.85%), (down 0.71%) and (down 0.65%), edged lower. (up 0.88%), Vedanta (up 0.96%) and NMDC (up 1.27%), edged higher.

Overseas, Asian stocks fell on Wednesday, as investor confidence was chilled by the latest round of verbal threats in an intensifying US-trade conflict. will seek permission from the (WTO) to impose sanctions on the US next week, according to the WTO's meeting agenda. will seek authorization at a special meeting of the WTO's Dispute Settlement Body on Friday, 21 September 2018.

The request comes at a time of escalating trade tensions between the world's two largest economies, with US saying last week he was "ready to go" on tariffs for another $267 billion on Chinese goods "if he wants." That would follow planned charges on $200 billion of Chinese goods in several industries, including technology. has vowed to retaliate if the US takes any new steps on trade.

US stocks shrugged off a wobbly start to close higher Tuesday, with the Dow climbing by triple digits, as and rallied. However, trade worries were simmering below the surface as investors continued to watch the situation between the US and China.

On the data front, small-business sentiment climbed to a record in August, according to the Separately, the number of job openings in the US climbed to a record 6.94 million in July while the US budget deficit in August was $211 billion, nearly double the gap during the year-ago period.

Meanwhile, the US budget deficit in August was $211 billion, nearly double the gap during the year-ago month, the estimated late Monday.

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

First Published: Wed, September 12 2018. 10:31 IST
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