The market pared gains in the afternoon trade. At 13:30 IST, the barometer index, the S&P BSE Sensex, was up 51.73 points or 0.13% at 39,182.77. The Nifty 50 index rose 13.80 points or 0.12% at 11,676.40. Negative global cues put pressure on domestic shares. Broader market was trading lower. The S&P BSE Mid-Cap index was down 0.19%. The S&P BSE Small-Cap index was down 0.13%. The market breadth, indicating the overall health of the market, was negative. On the BSE, 1095 shares rose and 1161 shares fell. A total of 153 shares were unchanged. Yes Bank was down 3.51% ahead of its Q1 result today, 17 July 2019. Larsen & Toubro was down 0.03%. The company announced during market hours today, 17 July 2019, that the water & effluent treatment business of L&T Construction and Tecton Engineering a Construction LLC, UAE joint venture have secured a prestigious contract for a 100 MLD Desalination plant from Gujarat Industrial Development Corporation, Gujarat, India. L&T Construction will be the lead in this project. The order falls in significant category with valuation between Rs 1000 to 2500 crore. Bharti Airtel was up 0.19%. The company announced after market hours yesterday, 16 July 2019, that it will consider Q1 June 2019 result on Thursday, 01 August 2019. Kotak Mahindra Bank (up 2.53%), UPL (up 2.39%), HCL Technologies (up 1.99%), Hindalco Industries (up 1.69%) and Britannia Industries (up 1.53%) advanced. GAIL (down 3.12%), ONGC (down 1.94%) and JSW Steel (down 1.61%) declined. Overseas, shares in Europe and Asia declined across the board as comments from US President Donald Trump reignited trade war fears. US stocks closed lower on Tuesday after President Donald Trump said an agreement with China on trade tariffs had a long way to go adding that America could place tariffs on an additional $325 billion worth of Chinese goods. Trump made his comments during a cabinet meeting at the White House. US and China have slapped tariffs on billions of dollars' worth of each other's imports since last year. Federal Reserve chair Jerome Powell, while speaking in Paris at the Bank of France, said the economic outlook hasn't improved since the last Federal Open Markets Committee meeting in June, likely setting the stage for an interest rate cut. Powered by Capital Market - Live News |