The market pared gains in mid-afternoon trade as profit selling emerged at higher levels. At 14:15 IST, the barometer index, the S&P BSE Sensex, was up 193.07 points or 0.55% at 35,335.06. The Nifty 50 index was up 49.10 points or 0.46% at 10,625.40. Buying was witnessed in auto and banks shares. Among secondary barometers, the BSE Mid-Cap index was up 0.59%. The BSE Small-Cap index was up 0.11%. The market breadth, indicating the overall health of the market, was negative. On BSE, 1,081 shares rose and 1,392 shares fell. A total of 136 shares were unchanged. Auto shares were in demand. Tata Motors (up 3.08%), Escorts (up 2.80%), Hero MotoCorp (up 2.12%), Eicher Motors (up 2.04%), Maruti Suzuki India (up 1.45%), Ashok Leyland (up 0.33%), TVS Motor Company (up 0.31%) and Bajaj Auto (up 0.06%), edged higher. Mahindra & Mahindra was down 0.54%. Most banks shares rose. Among private sector banks, Axis Bank (up 2.78%), Kotak Mahindra Bank (up 1.50%), ICICI Bank (up 1.42%), HDFC Bank (up 0.79%), IndusInd Bank (up 0.73%) and RBL Bank (up 0.27%), edged higher. Federal Bank was down 0.64%. Yes Bank lost 7.60%. The bank informed that Ashok Chawla, Non-Executive Independent Part-Time Chairman, has tendered his resignation from the Bank's Board, with immediate effect, mentioning that during the current transition period, the Bank would need a Chairman who could devote more time and attention. The bank shall in due course announce the appointment of a Chairman, post RBI's approval. The announcement was made after market hours yesterday, 14 November 2018. Among public sector banks, Allahabad Bank (up 8%), Syndicate Bank (up 2.76%), Bank of India (up 2.07%), Canara Bank (up 1.94%), Union Bank of India (up 1.86%), Bank of Maharashtra (up 1.03%), Dena Bank (up 0.9%), State Bank of India (up 0.78%), Andhra Bank (up 0.7%), Bank of Baroda (up 0.67%), Punjab National Bank (up 0.64%), IDBI Bank (up 0.58%), Corporation Bank (up 0.54%), Indian Bank (up 0.42%) and Vijaya Bank (up 0.24%), edged higher. UCO Bank (down 0.76%), Central Bank of India (down 0.81%), Punjab & Sind Bank (down 1.35%) and United Bank of India (down 1.48%), edged lower. Overseas, European and Asian stock shares traded higher on Thursday as investors digest the latest news on Brexit. British Prime Minister Theresa May said she had obtained enough support for her proposed Brexit deal to move forward. The uncertainty surrounding a deal had earlier weighed on risk sentiment. US stocks closed lower Wednesday, with the Dow Jones Industrial Average logging its longest losing streak in three months, as blue-chip Apple Inc. flirted with bear-market territory. Meanwhile, US Federal Reserve Chairman Jerome Powell on Wednesday expressed confidence in US economic strength and said that markets will have to get used to the idea that the central bank could raise rates at any time starting in 2019. On the US data front, the Labor Department said the consumer-price index rose by 0.3%, while core CPI, excluding volatile food and energy prices, rose 0.2%. Powered by Capital Market - Live News |