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Indices off day's low
09-Nov-18   10:34 Hrs IST

Stocks cut losses in morning trade after an initial slide triggered by negative Asian stocks. At 10:22 IST, the barometer index, the S&P BSE Sensex, was down 45.93 points or 0.13% at 35,191.75. The Nifty 50 index was down 9.60 points or 0.09% at 10,588.80.

Key benchmark indices edged lower in early trade on negative Asian stocks.

The S&P BSE Mid-Cap index was up 0.57%. The S&P BSE Small-Cap index was up 0.36%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 1046 shares rose and 867 shares fell. A total of 118 shares were unchanged.

Overseas, Asian stocks were trading lower on lingering worries over US-China trade relations. On the data front, China's consumer inflation remained at the second-highest level so far this year, buoyed by an acceleration in non-food prices, official data showed Friday. The consumer price index rose 2.5% in October from a year earlier, unchanged from the growth in September, the National Bureau of Statistics said.

US stocks closed mostly lower yesterday, 8 November 2018 as the Federal Reserve kept interest rates unchanged in an unanimous decision and signaled that it would continue to tighten monetary policy at a gradual pace. As expected, the Fed kept its benchmark target for rates unchanged in a 2% to 2.25% range.

Back home, Yes Bank (up 3.47%), Asian Paints (up 2.83%), Sun Pharmaceutical Industries (up 2.05%), Hero MotoCorp (up 1.66%) and Axis Bank (up 1.63%) edged higher from the Sensex pack.

Bharti Airtel (down 2.97%), Tata Steel (down 1.96%), Wipro (down 1.83%), Infosys (down 1.78%) and Kotak Mahindra Bank (down 0.99%) edged lower from the Sensex pack.

MRF rose 0.78%. The company's net profit declined 12.30% to Rs 263.04 crore on 9.39% rise in net sales to Rs 3928.16 crore in Q2 September 2018 over Q2 September 2017. The result was announced on Thursday, 8 November 2018. Stock markets were shut on 8 November 2018 on account of Diwali Balipratipada.

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