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Key benchmark indices cut losses in early afternoon trade. At 12:28 IST, the barometer index, the Sensex, was down 55.68 points or 0.16% at 34,136.97. The index was down 7.55 points or 0.07% at 10,473.05. FMCG stocks saw mixed trend. Realty stocks gained. Shares of index heavyweight and cigarette gained. Negative Asian stocks amid geopolitical tensions over and trade war concerns weighed on the domestic bourses.

A bout of volatility was seen in early trade as the key benchmark indices cut losses after a gap-down opening triggered by negative Asian stocks. The Sensex regained the psychological 34,000 level soon after an initial slide pulled it below that level in opening trade. Stocks recovered further lost ground in morning trade. Indices extended losses in mid-morning trade on fresh selling in index pivotals.

The Mid-Cap index was down 0.05%. The Small-Cap index was up 0.09%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was negative. On the BSE, 1,445 shares fell and 1,003 shares rose. A total of 163 shares were unchanged. Breadth was negative till morning trade. Breadth weakened in mid-morning trade.

Index heavyweight and cigarette gained 1.21% to Rs 263.95.

FMCG stocks saw mixed trend. (up 1.01%), (up 0.58%), (up 0.59%), Godrej Consumer Products (up 0.49%), (up 0.7%), (up 0.66%) and (up 0.4%) rose.

(down 2.16%), (down 0.74%), (down 0.26%), (down 0.1%) and (down 0.49%) fell.

Realty stocks gained. Estate (up 2.02%), (up 0.62%), Sobha (up 0.27%), (up 1.09%), Omaxe (up 0.58%), (up 0.36%), (up 1.56%) and (up 0.66%) rose.

Housing Development and Infrastructure (down 0.84%), (down 2.66%) and Unitech (down 2.33%) fell.

lost 7.59% on reports CBI filed a case against former relating to an alleged Rs 621 crore loan fraud case. According to media reports, officials at had colluded with private infrastructure firm Engineering Infra, and firm Finserve, to siphon two

After filing the case, the (CBI) reportedly conducted searches at over 10 places in and Mumbai, including Kaul's residence, the premises of chartered accountants and the two firms. Kaul was the CMD of the bank between 2010 and 2015. It is reportedly alleged that two loans worth Rs 200 crore and Rs 450 crore were given which were then diverted by these companies and not used for the purposes for which they were issued.

On the macro front, India's merchandise exports fell 0.7% to US$ 29.11 billion in March 2018 over a year ago. Meanwhile, merchandise imports moved up 7.1% to US$ 42.80 billion. The trade deficit jumped 28.6% to US$ 13.69 billion in March 2018 from US$ 10.65 billion in March 2017. The data was released by the after market hours on Friday, 13 April 2018.

Merchandise exports in rupees declined 1.9% to Rs 189271 crore, while imports moved up 5.8% to Rs 278297 crore in March 2018 over March 2017. The trade deficit rose to Rs 89026 crore in March 2018 compared with Rs 70127 crore in March 2017.

India's merchandise exports increased 10% to US$ 302.84 billion, while merchandise imports surged 19.7% to US$ 459.67 billion in April-March 2018. An increase in imports was driven by a 25.7% jump in to US$ 109.11 billion. India's merchandise trade deficit galloped to US$ 156.83 billion in April-March 2018 from US$ 108.92 billion in April-March 2017.

Overseas, most Asian stocks were trading lower as investors assess airstrikes against over the weekend and focus on the start of earnings season in the US as well as speeches by Federal Reserve officials. US stocks fell on Friday, 13 April 2018 as weakness in shares of banks and added to the political and trade tensions weighing on the market.

US declared mission accomplished via on Saturday, a day after the US, and the UK launched military strikes targeting three in in retaliation for a in Douma on April 7. Meanwhile, Russian reportedly warned on Sunday that further Western attacks on Syria would bring chaos to world affairs, as prepared to increase pressure on with new economic sanctions.

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

First Published: Mon, April 16 2018. 12:33 IST