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Market breadth turns negative

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Key benchmark indices hovered in positive zone in mid-morning trade. At 11:25 IST, the barometer index, the S&P BSE Sensex, was up 136.84 points or 0.35% at 39,097.63. The Nifty 50 index was up 26.55 points or 0.23% at 11,698.70. IT stocks were trading higher.

Local stocks drifted higher in early trade tracking mostly positive Asian stocks with the Sensex regaining the psychological 39,000 level. Volatility struck bourses in morning trade as the key indices regained strength soon after trimming intraday gains.

The S&P BSE Mid-Cap index was up 0.38%. The S&P BSE Small-Cap index was up 0.03%.

The market breadth, indicating the overall health of the market, turned negative from positive in mid-morning trade. On the BSE, 953 shares rose and 1032 shares fell. A total of 112 shares were unchanged.

IndusInd Bank (up 2.35%), Vedanta (up 1.89%), Power Grid Corporation of India (up 1.52%) and ICICI Bank (up 1.35%) were top gainers in Sensex Pack.

IT stocks were trading higher. Persistent Systems (up 2.63%), Infosys (up 1.47%), Oracle Financial Services Software (up 1.15%), HCL Technologies (up 0.58%), MindTree (up 0.49%), MphasiS (up 0.46%), Tech Mahindra (up 0.32%), NIIT Technologies (up 0.24%) and Hexaware Technologies (up 0.07%), edged higher. Larsen & Toubro Infotech (down 0.74%) and TCS (down 0.38%) edged lower.

Surya Roshni rose 2.46% after the company announced that it had received an order from Bharat Gas Resources (BRGL) worth Rs 151.88 crore for the supply of API grade 3LPE coated line pipes. The order is to be executed within 7 months.

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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, June 18 2019. 11:24 IST