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Market turns volatile

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Trading turned volatile as key benchmarks reversed intraday gains and slipped into negative terrain in morning trade. At 10:26 IST, the barometer index, the Sensex, was down 5.85 points or 0.02% at 34,468.53. The was flat at 10,347.65.

Among secondary barometers, the Mid-Cap was down 0.13%. The Small-Cap was down 0.04%. Both these indices underperformed the Sensex.

The market breadth, indicating the overall health of the market, was positive. On BSE, 1091 shares rose and 916 shares fell. A total of 85 shares were unchanged.

rose. Steel Authority of (up 2.17%), (up 1.96%), (up 1.17%), Vedanta (up 0.94%), (up 0.79%), (up 0.55%), (up 0.31%), NMDC (up 0.14%) and (up 0.11%), edged higher. was down 0.65%.

FMCG shares were mixed. (down 3.01%), (down 2.58%), (down 2.2%), (down 1.21%), (down 0.9%), Nestle (down 0.53%) and (down 0.28%), edged lower. (up 0.19%), (up 0.58%), (up 0.77%), (up 0.94%) and (up 1.84%), edged higher.

The (IMF) retained its India growth forecast for the current year and marginally pared it for next fiscal, citing the drag from higher crude prices and tightening of the global financial situation. But it will remain the fastest-growing major economy, well ahead of China, it said.

In its latest World Economic Outlook, the IMF said India will grow 7.3% in FY19 and 7.4% in FY20. It had in January forecast FY20 growth at 7.5%. is forecast to grow 6.6% and 6.2% in 2018 and 2019, respectively. The Indian economy grew 6.7% in FY18.

Overseas, Asian shares were mixed on Tuesday as allowed its currency to slip past a psychological bulwark amid sharp losses in domestic share markets, a shift that pressured other emerging currencies to depreciate to stay competitive. South Korea's markets are closed for a public holiday.

IMF added to the malaise by cutting forecasts of global growth for both this year and next, including downgrades to the outlook for the United States, and

In US, the Dow Jones Industrial Average bounced back from earlier losses to finish higher Monday, but the broader stock market closed lower as fears over rapidly rising rates continued to weigh on sentiment. The market was influenced by worries that US economic growth may be jeopardized by higher interest rates.

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

First Published: Tue, October 09 2018. 10:27 IST
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