Key benchmarks were almost flat in morning trade. At 10:24 IST, the barometer index, the S&P BSE Sensex, was down 2.44 points or 0.01% at 35,642.96. The Nifty 50 index was down 1 points or 0.01% at 10,768.90. Investors were cautious ahead of a deadline when tariffs from the US and China are due to be enforced.
Overseas, Asian markets were trading lower as investors searched for direction ahead of a deadline when tariffs from the US and China are due to be implemented. A looming 6 July 2018 deadline is set to see the US impose a 25% tariff on $34 billion worth of Chinese goods from more than 800 product categories. China has also announced that it will retaliate with duties on the same value of US products. US stock market was shut on Wednesday for the Independence Day holiday.
Among secondary barometers back home, the BSE Mid-Cap index was up 0.06%. The BSE Small-Cap index was up 0.15%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was positive. On BSE, 980 shares rose and 919 shares fell. A total of 94 shares were unchanged.
Metal shares fell across the board. Hindustan Zinc (down 2.5%), Jindal Steel & Power (down 2.2%), Tata Steel (down 1.85%), National Aluminium Company (down 1.61%), Vedanta (down 1.34%), Hindalco Industries (down 1.29%), Steel Authority of India (down 1.18%), NMDC (down 0.58%), JSW Steel (down 0.56%) and Hindustan Copper (down 0.33%), edged lower.
Most FMCG shares rose. Nestle India (up 0.82%), Britannia Industries (up 0.76%), Bajaj Corp (up 0.72%), Procter & Gamble Hygiene & Health Care (up 0.57%), Tata Global Beverages (up 0.45%), Colgate Palmolive (India) (up 0.20%), Marico (up 0.03%) and GlaxoSmithKline Consumer Healthcare (up 0.01%), edged higher. Hindustan Unilever (down 0.35%), Dabur India (down 0.38%), Godrej Consumer Products (down 0.53%) and Jyothy Laboratories (down 1.38%), edged lower.
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