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Market pares intraday losses

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Key equity indices pared losses in early afternoon trade. At 12:25 IST, the barometer index, the S&P Sensex, was down 622.41 points or 1.79% at 34138.48. The index was down 188.25 points or 1.80% at 10,271.85. Sentiment continued to be fragile amid dismal global cues.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 74.395, compared with its close of 74.21 during the previous trading session. Rupee hit a record low of 74.50 in early deals today.

Among secondary barometers, the Mid-Cap index was down 1.09%. The Small-Cap index was down 0.98%.

The market breadth, indicating the overall health of the market, was quite weak. On BSE, 709 shares rose and 1591 shares fell. A total of 118 shares were unchanged.

declined. (down 2.97%), ACC (down 2.81%) and (down 2.72%), edged lower.

down 3.73%. Grasim has exposure to cement sector through its holding in

Telecom shares slipped. Idea (down 2.64%), (down 1.79%), (down 1.64%) and (Maharashtra) (down 0.35%), edged lower. MTNL was up 0.91%.

Telecom tower infrastructure provider was down 1.54%.

Overseas, Asian shares slumped on Thursday after Wall Street suffered its worst drubbing in eight months. Investors are turning their attention to Chinese trade data due Friday for a read on whether the trade dispute is seeping through in the data. They'll also be keeping an eye on inflation data scheduled for Thursday in the US.

Trading in US index futures indicated that the could slump 135 points at the opening bell today, 11 October 2018.

US stocks slumped to close sharply lower Wednesday as the sank and the had its worst day since February as went into a freefall. Investors spooked by rising bond yields dumped equities in all sectors, triggering a broad market rout. The surge in bond yields made stocks look less attractive compared to bonds while also threatening to curb economic activity and profits.

reportedly knocked the for continuing to raise interest rates despite some recent market turbulence. Trump's comments on the central Wednesday came a day after he said he did not like what they were doing in terms of monetary policy.

In the latest US economic data, the producer-price index rose 0.2% in September, while the core PPI was up 0.4%. Separately, wholesale inventories in the US rose 1% in August.

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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, October 11 2018. 12:30 IST