You are here: Home » News-CM » Equities » Market Report
Business Standard

Market drifts lower

Capital Market 

Key indices were trading lower on selective selling in index stocks. At 9:20 IST, the barometer index, the S&P BSE Sensex, was down 61.34 points or 0.15% at 41,798.35. The Nifty 50 index was down 11.40 points or 0.09% at 12,318.15.

The S&P BSE Mid-Cap index was up 0.23%. The S&P BSE Small-Cap index was up 0.27%. Both these indices outperformed the BSE Sensex.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 773 shares rose and 367 shares fell. A total of 47 shares were unchanged.

Among stocks, Infosys fell 0.55%. Infosys said the company has partnered with GEFCO, a world leader in multimodal supply chain solutions and the European leader in automotive logistics, to support its digital transformation over the next five years.

Wipro advanced 0.43%. IT major Wipro will announce its Q3 result today, 14 January 2020.

Indian Railway Catering Tourism Corporation gained 0.64%. Indian Railway Catering Tourism Corporation (IRCTC) said Ministry of Railways has given its approval to IRCTC to operate 82901/82902 Ahmedabad-Mumbai Central Tejas Express (06 days a week). This train will have its inaugural run on 17 January 2020 and will start its commercial run from 19 January 2020.

Aster DM Healthcare was up 1%. Aster DM Healthcare said the board has approved the shares buyback for up to 57.14 lakh equity shares fully paid-up of Rs 10 per equity share representing up to 1.13 % of the total paid-up Equity Share capital of the company at a price of Rs 210, for an aggregate amount of up to Rs 120 crore.

Manappuram Finance fell 0.42%. Manappuram Finance said the company has raised $300,000,000 by allotment of fixed rate senior secure notes (Notes). The Notes will be listed on the Singapore Exchange Securities Trading.

On the macro front, the all-India general CPI inflation jumped to 7.35% in December 2019 (new base 2012=100), compared with 5.54% in November 2019. The corresponding provisional inflation rate for rural area was 7.26% and urban area 7.46% in December 2019 as against 5.27% and 5.76% in November 2019.

Overseas, Asian markets were trading higher on Tuesday as investors await China's trade data ahead of a long-anticipated phase one deal signing with the US this week. Optimism also rose as the US removed China from a list of currency manipulators.

In US, the S&P 500 and Nasdaq hit all-time high on Monday, as investors awaited the planned signing of a phase one US-China trade deal later in the week and prepared for fourth-quarter earnings season to move into full swing.

Powered by Capital Market - Live News

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

First Published: Tue, January 14 2020. 09:27 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU