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Market breadth turns negative

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Key indices reversed direction to sink in negative zone in morning trade. At 10:17 IST, the barometer index, the BSE Sensex, was down 23.25 points or 0.06% at 36,371.78. The index was down 9.55 points or 0.09% at 10,879.25.

Domestic stocks eked out small gains in early trade ahead of release of key domestic macro economic data.

On the macro front, data of Consumer Price Index (CPI) for January and Index of Industrial Production (IIP) for December 2018 is slated to be released later in the day.

The BSE Mid-Cap index was off 0.02%. The BSE Small-Cap index was down 0.31%.

The market breadth, indicating the overall health of the market, turned negative from positive. On the BSE, 876 shares rose and 953 shares fell. A total of 103 shares were unchanged.

Coal (up 2.13%), Power Grid Corporation of (up 1.67%), (up 1.27%), (up 0.97%) and (up 0.96%) edged higher from the Sensex pack.

(down 1.95%), (down 1.77%), (down 1.54%), (down 1.22%) and (down 0.93%) edged lower from the Sensex pack.

rose 7.26% after net profit rose 33.1% to Rs 107.30 crore on 31.6% increase in net sales to Rs 707.50 crore in Q3 December 2018 over Q3 December 2017. The result was announced after market hours yesterday, 11 February 2019.

Earnings before interest, tax, depreciation and amortization (EBITDA) during Q3 came in at Rs 149 crore, higher by 42% YoY, with margins at 21%, contributed by better product mix and improved realization and operating leverage benefit.

said Q3 revenue growth was supported by about 40% year-on-year (YoY) growth in exports on account of ramp up in demand of existing products. Domestic revenue grew by 9% YoY despite soft demand in the current quarter on account of poor pattern of rainfall in rabi and low agri produce prices.

rose 0.39%. announced that its board on 14 February 2019 will consider issuing equity shares to the group on preferential basis at such price as may be determined in accordance with regulations. The announcement was made after market hours yesterday, 11 February 2019.

Overseas, most Asian stocks rose with investors looking to a new round of Sino-US trade talks as the world's two largest economies try to resolve a tariff dispute that has put a dent on global growth and corporate earnings.

US stocks closed mostly higher Monday after a choppy session as a round of US-tariff negotiations in commenced and as the threat of another partial government shutdown loomed.

The latest round of trade negotiations between the US and began Monday with working-level talks in Beijing, while and US Trade are reportedly due to arrive Thursday for more high-level discussions.

In Europe, the UK, meanwhile, is bracing to exit the on March 29 with or without a trade agreement in hand.

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

First Published: Tue, February 12 2019. 10:21 IST