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Market breadth turns negative from positive

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Key benchmark indices trimmed gains in the morning trade after a strong opening on higher Asian stocks. At 10:22 IST, the barometer index, the Sensex rose 85.89 points or 0.26% at 33,118.98. The index advanced 18.80 points or 0.19% at 10,173.

The Mid-Cap index fell 0.52%. The Small-Cap index declined 0.57%. Both these indices underperformed the Sensex.

Overseas, Asian stocks edged higher on news of potential US tariff exemptions. US stocks closed well off session lows yesterday, 7 March 2018 after the hinted and could be exempt from tariffs proposed by

In Europe, the European Central Bank's (ECB) monetary policy statement is due later today, 8 March 2018. The central is expected to be cautious to prevent any unwanted tightening of financing conditions amid mounting global insecurities, especially in the wake of recent tariffs announcement by the US

Closer home, the breadth, indicating the overall health of the market, turned negative from positive. On the BSE, 1,427 shares declined and 727 shares advanced. A total of 102 shares were unchanged.

Key telecom stocks were mixed after the yesterday, 7 March 2018 approved two key measures in telecom sector to facilitate investments, consolidation in the sector and enhancing ease of doing business. was up 0.38% while dropped 0.99%.

The measures include restructuring the deferred payment liabilities of of telecom service providers and revising the limit of the cap for spectrum holding for telecom service providers. The overall spectrum cap is revised from the current limit of 25% to 35%. The current intra-band cap is removed. Instead, there is a cap of 50% on the combined spectrum holding in the sub-1 GHz bands (700 MHz, 800 and 900 bands). There will be no cap for individual or combined spectrum holding in above 1 GHz band.

advanced 1.05% after the company scheduled a board meeting on 12 March 2018, to consider enablement from board to opportunistically raise funds through various debt instruments including issuance of non-convertible debentures (NCDs). The announcement was made after market hours yesterday, 7 March 2018.

Auto stocks also witnessed a mixed trend. (up 2.2%), (up 0.29%) and (up 0.09%) edged higher. (down 1.09%) and (down 0.26%) declined.

(M&M) rose 0.06% after the company launched an all new tractor platform in the high power category, ranging from 60 to 75 tractors. Tractors based on this platform will be introduced over a period of time, beginning with the launch of the Swaraj 963FE. The Swaraj 963FE will be available across Swaraj's wide network of 875 dealers, at a starting price of Rs 7.40 lakh ex-showroom. The announcement was made after market hours yesterday, 7 March 2018.

dropped 0.37%. The company introduced the new 'Super Splendor' across markets in the country. Aimed at further bolstering its dominant leadership in the domestic motorcycle market, the new Super Splendor is priced at Rs 57,190 (Ex-Showroom Delhi). Targeted at young professionals, the new Super Splendor offers best-in-class performance and convenience. This is in addition to the trust, reliability and fuel efficiency that are distinct to the Splendor brand, the company said. The announcement was made after market hours yesterday, 7 March 2018.

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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 08 2018. 10:26 IST
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