Equity

Key indices hover with small losses
(15-Nov-2017, 10:12 Hours IST)  

After a lower opening, key benchmark indices hovered with small losses in morning trade amid weak global cues. At 10:15 IST, the barometer index, the S&P BSE Sensex was down 49.27 points or 0.15% at 32,892.60. The Nifty 50 index fell 21.95 points or 0.22% at 10,164.65. Data showing widening of India's trade deficit in October also dampened investor sentiment.

Among secondary indices, the S&P BSE Mid-Cap index fell 0.02%. The decline in this index was lower than the Sensex's slide in percentage terms. The S&P BSE Small-Cap index lost 0.29%. The decline in this index was higher than the Sensex's slide in percentage terms.

Overseas, Asian stocks edged lower with energy-related players in the region falling on weakening oil prices. Among economic data, foreign direct investment in China's non-financial sectors grew 1.9% year-on-year between January and October to 678.7 billion yuan ($102.19 billion), latest data from the Ministry of Commerce showed.

US stocks fell yesterday, 14 November 2017 as concerns about a potential global economic slowdown and US tax reform dampened investor sentiment.

Closer home, the breadth, indicating the overall health of the market, was negative. On BSE, 1,249 shares declined and 854 shares rose. A total of 87 shares were unchanged.

IT stocks were mixed. Tech Mahindra (up 0.84%), TCS (up 0.77%) and Infosys (up 0.03%) edged higher. Oracle Financial Services Software (down 0.3%) and Wipro (down 0.47%) declined.

HCL Technologies fell 1.6% at Rs 855.25. The company announced a five-year IT infrastructure services contract with Jardine Lloyd Thompson Group (JLT), one of the worlds' leading providers of insurance, reinsurance and employee benefits related advice, brokerage and associated services. The announcement was made after market hours yesterday, 14 November 2017.

Realty stocks also witnessed a mixed trend. Prestige Estates Projects (down 2.49%), Indiabulls Real Estate (down 2.32%), Unitech (down 0.64%), D B Realty (down 0.57%) and HDIL (down 0.5%) edged lower. Godrej Properties (up 1.5%), Oberoi Realty (up 1.32%), Sobha (up 1%) and DLF (up 0.05%) edged higher.

On the macro front, data released by the government after market hours yesterday, 14 November 2017 showed that India's trade deficit widened to $14.01 billion in October 2017 as against the deficit of $11.13 billion during October 2016. Exports fell 1.1% in October while imports grew by 7.6%.

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