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Market breadth turns negative

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Stocks trimmed gains in morning trade. At 10:28 IST, the barometer index, the S&P BSE Sensex, was up 33.62 points or 0.09% at 37,785.79. The index was up 4.50 points or 0.04% at 11,346.20

Domestic stocks drifted higher in early trade on buying demand in index pivotals.

The S&P BSE Mid-Cap index was off 0.25%. The S&P BSE Small-Cap index was off 0.1%. Both these indices underperformed the Sensex.

The market breadth, indicating the overall health of the market, turned negative from positive. On the BSE, 927 shares rose and 1043 shares fell. A total of 104 shares were unchanged.

Overseas, Asian shares were trading mixed on Thursday as investors awaited data from for clues about the health of the world's second largest economy. U.S. stocks closed higher Wednesday, as investors parsed economic data that included stronger-than-expected durable goods orders and further signs that inflation remains subdued.

The Commerce Department report also showed core capital orders, a key measure of business investment, rising 0.8% in January after falling sharply the two months previous.

In Europe, the on Wednesday voted against a no-deal Brexit, a day after lawmakers rejected Theresa May's revised Brexit deal in a 242-391 vote. On Thursday, they will decide on whether to request an extension to the March 29 deadline to reach a trade agreement with the

Back home, (up 2.7%), (up 2.15%), (up 1.05%), (up 0.98%) and (up 0.75%) edged higher from the Sensex pack.

(down 1.63%), (down 1.37%), (down 0.79%), (down 0.72%) and (down 0.66%) edged lower from the Sensex pack.

rose 0.22%. has received a letter from the (USFDA) classifying the inspection conducted at the company's (Unit 1) facility in December 2018 as 'Action Indicated' (OAI). The USFDA has stated that this facility may be subject to regulatory or administrative action and that it may withhold approval of any pending applications or supplements in which this facility is listed.

There are no master files (DMF) and Abbreviated Applications (ANDA) pending review or approval from the (Unit 1) facility and the company does not believe that this classification will have an impact on disruption of supplies or the existing revenues from operations of this facility. The company is in the process of sending further updates of its corrective actions to the USFDA and remains hopeful of a positive outcome. The announcement was made after market hours yesterday, 13 March 2019.

rose 0.87%. announced that it has been awarded a technology-driven grid modernization project by (RRVPL), as part of the utility's roadmap to implement grid initiatives and augmenting in the state. Smart Transmission Network and Asset Management System (STNAMS), RRVPL's state-of-the-art power transmission roadmap, was designed to integrate large-scale and support managing existing and future power structure. GE's System (AEMS) will serve as a foundation for RRVPL's roadmap and enable the utility to alter production levels based on demand. The announcement was made after market hours yesterday, 13 March 2019.

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

First Published: Thu, March 14 2019. 10:36 IST
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