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Shares turn range bound

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The market continued trading in a narrow band in mid-afternoon trade. At 14:25 IST, the barometer index, the BSE Sensex, was up 108.33 points or 0.28% at 39,089.76. The index was up 26.50 points or 0.23% at 11,751.25.

Among secondary barometers, the BSE Mid-Cap index was up 0.02%. The BSE Small-Cap index was down 0.09%.

The market breadth, indicating the overall health of the market, was negative. On BSE, 1014 shares rose and 1362 shares fell. A total of 184 shares were unchanged.

Realty shares were mixed. (down 2.62%), Anant Raj (down 2.31%), (down 2.15%), (down 1.83%), Unitech (down 1.57%), (down 1.05%), (down 0.89%), (HDIL) (down 0.44%) and (down 0.07%), edged lower. Real Estate (up 0.22%), Sobha (up 0.66%), (up 1.24%), (up 1.47%), (up 2.97%) and (up 3.65%), edged higher.

Properties was up 0.92%. after the company announced purchase of R.K. Studios' land in Chembur, to develop a mixed-use project at the iconic location. Spread across 2.2 acres, this project will offer approximately 33,000 square meters (approximately 0.35 million square feet) of saleable area comprising modern residential apartments of various configurations as well as a The site is strategically located on the main Sion-Panvel Road and offers an extremely well developed with multiple schools, hospitals, retail malls, residential, and commercial spaces in close proximity. The announcement was made before market hours today, 3 May 2019.

Most FMCG shares declined. (down 2.71%), Consumer Products (down 2.56%), (down 2.1%), (down 1.95%), (down 1.87%), (down 1.2%), (down 0.98%), (down 0.48%) and (down 0.22%), edged lower. (up 0.15%), (up 0.43%) and (up 1.42%), edged higher.

In the global commodities markets, Brent for July 2019 settlement was down 70 cents at $70.05 a barrel. The contract fell $1.43 a barrel or 1.98% to settle at $70.75 a barrel during the previous trading session. imports majority of its crude requirements and a decline in crude eases concerns on fiscal deficit and inflation.

On the economic front, India's unemployment rate in April rose to 7.6%, the highest since October 2016, and up from 6.71% in March, according to data compiled by the Centre for Monitoring Indian (CMIE) released late on Wednesday.

Meanwhile, India's slowed down slightly in the last fiscal due to declining growth in private consumption, slow increase in fixed investment and muted exports though it is still fastest growing major economy, said the Ministry's monthly report. It further said there is slowdown of growth in agriculture and sustained growth in industry as well as some challenges.

Overseas, European shares were trading higher Friday as investors digested fresh corporate earnings and looked ahead to payrolls data out in the US. Asian shares were mixed following losses in US shares overnight. Markets in and are closed for holidays.

In US, stocks ended lower on Thursday, marking a second straight loss for the and Dow, as equity investors hopeful of further policy easing remain disappointed with the Federal Reserve's Wednesday meeting.

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

First Published: Fri, May 03 2019. 14:28 IST