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Telecom stocks see mixed trend

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Indian equities were trading in a small range with negative bias in mid-afternoon trade. At 14:24 IST, the barometer index, the BSE Sensex, was down 93.40 points or 0.26% at 36,147.60. The index was down 10.15 points or 0.09% at 10,873.60. Telecom stocks saw mixed trend.

Investors remained cautious ahead of the outcome of the Reserve Bank of India's (RBI) monetary policy meeting. The (MPC) will conclude its two-day meet tomorrow, 5 December 2018. The resolution of the MPC will be announced on 5 December 2018.

Indices drifted lower in early trade as profit booking emerged on the bourses after six straight days of gains. Stocks hovered in a small range in negative zone in morning trade. Fresh selling in index pivotals pulled the key indices to day's low in mid-morning trade. After a mild recovery in early afternoon trade, indices once again moved towards the day's low in afternoon trade.

Data showing that local funds were net sellers of Indian stocks also weighed on the sentiment. The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 293.12 crore yesterday, 3 December 2018, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 806.45 crore yesterday, 3 December 2018, as per provisional data.

The BSE Mid-Cap index was up 0.01%. The BSE Small-Cap index was up 0.2%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was negative. On the BSE, 1124 shares rose and 1303 shares fell. A total of 157 shares were unchanged.

Index heavyweight and software major gained 2.08% to Rs 683.80

Telecom stocks saw mixed trend. (down 2.5%) and Idea (down 1.12%) fell. MTNL (up 1.94%), (Maharashtra) (up 0.25%) and (up 4.99%) rose.

Shares of fell 1.53%. is a provider of and is a unit of

rose 3.82% to Rs 205.15. said that its board of directors in its meeting held on Tuesday, 4 December 2018, has approved the issue of 20,00,000 convertible warrants each to non-promoters, Santario Ceramics and Oxento Ceramics, at Rs 245 per convertible warrant. The announcement was made during trading hours today, 4 December 2018.

Overseas, European shares were trading lower while Asian stocks were mixed following Monday's jumps across the region, signaling fading investor applause for the US-trade truce. US stocks closed higher Monday, after the US and over the weekend called a temporary truce to their trade war.

A trade standoff between the US and saw a breakthrough at the meeting in Argentina, a gathering that included a highly-anticipated dinner between and Chinese leader The two sides agreed to launch negotiations to reduce trade tensions and discuss forced technology transfer, intellectual-property protection, non-tariff barriers, and cyber and agriculture issues, among other concerns.

Meanwhile, and Nasdaq will remain closed Wednesday as a of mourning will be held in memory of former

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

First Published: Tue, December 04 2018. 14:29 IST
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