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Market turns volatile

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Volatility struck bourses in morning trade as the key benchmark indices cut losses soon after reversing intraday gains. At 10:19 IST, the barometer index, the S&P BSE Sensex, was down 7.45 points or 0.02% at 38,150.44. The Nifty 50 index was down 8.25 points or 0.07% at 11,512.05. Realty stocks dropped.

Domestic stocks nudged higher in early trade.

The S&P BSE Mid-Cap index was down 0.5%. The S&P BSE Small-Cap index was down 0.45%. Both these indices underperformed the Sensex.

The market breadth, indicating the overall health of the market, was negative. On the BSE, 834 shares rose and 1229 shares fell. A total of 111 shares were unchanged.

Back home, Coal India (down 2.18%), Hindustan Unilever (down 1.45%) and ONGC (down 0.95%) edged lower from the Sensex pack.

Realty stocks dropped. Godrej Properties (down 3.45%), Phoenix Mills (down 3.19%), Indiabulls Real Estate (down 0.45%), Housing Development and Infrastructure (down 0.6%), D B Realty (down 2.96%), Unitech (down 0.78%), Sobha (down 1.58%), Prestige Estates Projects (down 1.12%) and Oberoi Realty (down 1.91%) declined. DLF (up 0.05%) rose.

Mcnally Bharat Engineering Company rose 3.64%. Mcnally Bharat Engineering Company said it has received one order from NLC India for construction of 544 colony houses and community hall including internal electrification - phase-I for Talabira II & III OCP - proposed R&R colony at Khinda - Odisha worth Rs 107.97 crore. The announcement was made after market hours yesterday, 4 September 2018.

On the macro front, Nikkei Services PMI for August 2018 will be announced today, 5 September 2018. The Nikkei India Services PMI rose to 54.2 in July 2018 from 52.6 in June 2018.

Overseas, Asian stocks were trading lower amid continued pressure in many emerging markets and as trade tensions persisted. US stocks fell yesterday, 4 September 2018 as investors looked ahead to a busy week of trade negotiations and economic data.

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

First Published: Wed, September 05 2018. 10:30 IST