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Sensex, Nifty turn volatile; PSU banks decline

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Key equity benchmarks once again slipped into negative territory after briefly entering positive terrain in mid-morning trade. At 11:25 IST, the barometer index, the S&P BSE Sensex, was down 33.70 points or 0.08% at 39,716.03. The Nifty 50 index was down 10.50 points or 0.09% at 11,918.25.

Gains in index pivotals ITC, Reliance Industries and HDFC supported key benchmarks at lower levels. Sentiment, however, continued to be fragile amid negative leads from other Asian markets as investors worried over the outlook for global growth with trade tensions between US and China showing no signs of fading.

A decline in interest rates also sparked worries about a possible slowdown in the US economy. The yield on the benchmark 10-year note fell to around 2.26%, the lowest level since September 2017. That put it below the 2.35% yield on the three-month Treasury bill. Yields move inversely to prices.

Among secondary barometers back home, the BSE Mid-Cap index was down 0.43%. The BSE Small-Cap index was down 0.18%.

The market breadth, indicating the overall health of the market, was negative. On BSE, 972 shares rose and 1180 shares fell. A total of 121 shares were unchanged.

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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, May 29 2019. 11:37 IST
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