Weakness persisted on the bourses in mid-afternoon trade. At 14:25 IST, the barometer index, the S&P BSE Sensex, was down 176.77 points or 0.5% at 35,479.93. The Nifty 50 index was down 52.85 points or 0.5% at 10,608.70. The Nifty was trading a tad above 10,600 mark.
Domestic stocks were trading lower in early trade on negative Asian stocks. A bout of volatility was seen in morning trade as fresh selling derailed a brief intraday recovery. Stocks hovered with small losses in mid-morning trade. Key equity indices extended losses and hit fresh intraday low in afternoon trade.
The S&P BSE Mid-Cap index was down 0.01%. The S&P BSE Small-Cap index was down 0.42%.
The market breadth, indicating the overall health of the market, was negative. On the BSE, 962 shares rose and 1451 shares fell. A total of 137 shares were unchanged.
HDFC fell 1.49% after net profit fell 60.12% to Rs 2113.80 crore on 19.77% increase in total income to Rs 10569.12 crore in Q3 December 2018 over Q3 December 2017. The result was announced during trading hours today, 29 January 2019.
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HDFC said that its board approved issuance of secured redeemable non-convertible debentures under a shelf disclosure document (Series - V), aggregating to Rs 45000 crore, in various tranches, on a private placement basis. Further, the board also approved appointment of Ireena Vittal as an independent director (additional director) on the Board of Directors of the Corporation for a period of 5 years with effect from 30 January 2019.
Mahindra & Mahindra (M&M) shed 0.67%. Mahindra's Truck and Bus Division (MTB), a part of the Mahindra Group, announced during trading hours today, 29 January 2019, the commercial launch of the FURIO, its brand-new range of Intermediate Commercial Vehicles (ICVs) with an unprecedented guarantee of More Profit or Truck Back. FURIO marks the company's entry into the ICV segment and is set to make Mahindra a full range commercial vehicle player. To be available across India from today, FURIO prices start at Rs 17.45 lakh for the FURIO12 19ft HSD variant and Rs 18.10 lakh for the FURIO14 19ft HSDvariant (ex-showroom Pune).
Sharon Bio-Medicine fell 1%. Sharon Bio-Medicine announced that API plant located at Taloja (Maharashtra) is directed for closure of operations under Section 33A of the Water (Prevention & Control of Pollution) Act, 1974 and under Section 31A of the Air (Prevention & Control of Pollution) Act, 1981. The announcement was made after market hours yesterday, 28 January 2019.
Overseas, European shares were slightly higher on Tuesday, as investors flocked to stocks considered safe in times of economic uncertainty after a series of profit alerts from US companies and amid continued worries about trade frictions.
Asian shares edged lower on Tuesday as prospects for a long-awaited U.S-China trade deal was dealt another blow after the United States leveled sweeping criminal charges against China's telecom giant Huawei. The US Justice Department unsealed indictments against China's top telecom equipment maker, Huawei, accusing it of bank and wire fraud to evade Iran sanctions and conspiring to steal trade secrets from T-Mobile US Inc.
US stocks closed lower Monday in the wake of disappointing earnings and Nvidia Corp. Investors turned cautious at the start of a busy week packed with earnings, economic data, a Federal Reserve meeting and a new round of U.S-China trade talks.
On the data front, the Federal Reserve of Chicago's national activity index rose to 0.27 in December, up from 0.21 in November. Growth in Texas manufacturing activity accelerating in January, according to the Federal Reserve Bank of Dallas. It's monthly manufacturing index rose from 7.3 to 14.5.
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