Mid - Session

Market trades with small losses amid initial volatility

14 Feb 2017, 09:18 AM

Key benchmark indices were trading with small losses after hovering between the gains and losses in early trade amid mixed Asian cues. At 9:30 IST, the barometer index, the S&P BSE Sensex, was down 22.38 points or 0.08% at 28,315.92. The Nifty 50 index was currently down 15.85 points or 0.18% at 8,789.20.

Among secondary barometers, the BSE Mid-Cap index was currently down 0.34%. The decline in this index was higher than the Sensexs drop in percentage terms. The BSE Small-Cap index was currently down 0.05%. The decline in this index was lower than the Sensexs drop in percentage terms. The market breadth indicating the overall health of the market was positive. On BSE, 746 shares rose and 681 shares fell. A total of 66 shares were unchanged.

Overseas, Asian shares were mixed. On macro front, Chinas producer prices increased the most since 2011, further lifting the outlook for global reflation with the worlds biggest exporter poised to give more support to gains.

US stocks finished at records for a third session in row yesterday, 13 February 2017, led by gains in the financials and industrials sectors. Stronger-than-expected profit reports from companies, continued improvement in the US economy and expectations for business-friendly policies from Washington have helped propel the market. Optimism for an improving US economy under US President Donald Trump has underpinned investors appetite for equities.

Back home, ONGC (up 0.44%), Tata Steel (up 0.41%) and Hindustan Unilever (up 0.39%) were the major gainers from the Sensex pack.

NMDC declined 0.48%. The companys net profit rose 41.33% to Rs 595.16 crore on 36.23% rise in total income to Rs 2653.74 crore in Q3 December 2016 over Q3 December 2015. The result was announced after market hours yesterday, 13 February 2017.

Sun Pharmaceutical Industries rose 0.46% ahead of its results today, 14 February 2017.

Tata Motors declined 1.16% ahead of its results today, 14 February 2017.

Adani Ports and Special Economic Zone rose 0.24% ahead of its results today, 14 February 2017.

On the macro front, the all-India general consumer price index (CPI) inflation dipped to 3.17% in January 2017 compared with 3.41% in December 2016. The CPI inflation in January 2017 has touched a lowest level for CPI inflation data with base 2012 available since January 2014. The data was announced after market hours yesterday, 13 February 2017.

The government will announce monthly inflation data based on wholesale price index (WPI) for January 2016 today, 14 February 2017. The WPI based inflation rose 3.4% in December 2016 from 3.2% in November 2016, while snapping decline for last three straight months.

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