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Negative market breadth

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Weakness persisted on the bourses in early afternoon trade. At 12:29 IST, the barometer index, the S&P BSE Sensex, was down 142.05 points or 0.39% at 35,892.06. The was down 45.40 points or 0.42% at 10,748.25. declined.

Domestic stocks drifted lower in early trade on selling pressure in index pivotals. Key indices extended decline in morning trade. Stocks hovered in negative zone in mid-morning trade.

The S&P BSE Mid-Cap index was down 0.18%. The S&P BSE Small-Cap index was down 0.23%.

The market breadth, indicating the overall health of the market, was negative. On the BSE, 899 shares rose and 1325 shares fell. A total of 115 shares were unchanged.

declined. Among shares of and production (E&P) companies, (down 1.21%), (down 3.07%) and (down 1.42%) edged lower.

Shares of state-run companies fell after Brent crude prices firmed up in international market. HPCL (down 4.06%), BPCL (down 4.12%) and (down 4.69%) dropped.

Higher could increase under-recoveries of PSU OMCs on domestic sale of LPG and kerosene at controlled prices. The government has already freed of petrol and diesel.

In the global commodities markets, Brent for April 2019 settlement was up 62 cents at $64.23 a barrel. The contract rose $1.19 per barrel, or 1.91% to settle at $63.61 a barrel during the previous trading session.

rose 3.21% after the company said it secured order worth Rs 520 crore from The scope of the contract includes engineering, supply, erection, construction and commissioning of 20 over a period of 24 months, the statement said. The announcement was made during trading hours today, 14 February 2019.

Overseas, most Asian stocks were trading lower Thursday as investors awaited the outcome of high-level trade talks between the U.S. and China, and data on the Chinese A third day of bilateral trade negotiations were under way in Beijing, with and U.S. Trade expected Thursday for more high-level discussions.

On the data front, China's exports unexpectedly accelerated last month, official data released on Thursday showed. The country's exports surged 9.1% from a year earlier in January, reversing a 4.4% decline in December. dropped 1.5% in January, following a 7.6% decrease in December. China's trade surplus with all trading partners stood at $39.16 billion in January, much smaller than the $57.06 billion surplus recorded in December.

The Japanese rebounded in the final quarter of 2018 due to solid spending by households and companies. The expanded at an annualized rate of 1.4% in the October-December period following a 2.6% contraction in the previous quarter, government data showed Thursday. The economy grew 0.3% from the quarter before.

U.S. stocks closed higher Wednesday, trimming gains but with the S&P 500 and Nasdaq rising for a fourth straight session, on hopes that negotiators will come close to a deal after trade talks. US said Tuesday that he would allow for flexibility on the timeline for a deal with if an agreement looks close. Meanwhile, Chinese is reportedly expected to meet key members of the U.S. delegation on Friday.

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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, February 14 2019. 12:33 IST