Key benchmark indices edged lower in early trade as weakness in Asian stocks weighed on sentiment adversely. The barometer index, the S&P BSE Sensex was currently down 110.48 points or 0.4% at 27,754.56. The market breadth indicating the overall health of the market was negative.
NMDC dropped after reporting weak Q1 results. Tata Steel rose on good Q1 results.
The S&P BSE Sensex was down 110.48 points or 0.4% at 27,754.56. The index fell 165.98 points at the day’s low of 27,700.11 in early trade. The index gained 17.24 points at the day’s high of 27,883.33 in early trade.
The CNX Nifty was down 32.35 points or 0.38% at 8,430. The index hit a low of 8,409.30 in intraday trade. The index hit a high of 8,446.95 in intraday trade.
The market breadth indicating the overall health of the market was negative. On BSE, 945 shares declined and 602 shares rose. A total of 58 shares were unchanged.
The BSE Mid-Cap index was down 59.09 points or 0.51% at 11,443.46. The BSE Small-Cap index was down 48.82 points or 0.41% at 11,870.22. The decline in these indices was higher than Sensex’s drop in percentage terms.
Tata Steel rose on good Q1 results. The stock rose 2.73%. The company’s consolidated net profit jumped 126.17% to Rs 762.96 crore on 15.23% fall in total income to Rs 31062.50 crore in Q1 June 2015 over Q1 June 2014. The result was announced after market hours yesterday, 11 August 2015.
Asian markets slumped, feeling the aftershocks of China’s surprise devaluation of the yuan, which hit US equities overnight and pushed down already-weak emerging currencies. US stocks dropped yesterday, 11 August 2015, after a move by China’s government to devalue its currency set off a sell-off in global financial markets yesterday, 11 August 2015, as investors worried about the health of the world’s second-largest economy.
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