Key indices end flat in risk-averse trading
Equity markets settle with marginal gains in highly volatile trade as investors remained cautious amid renewed foreign fund outflows
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Mumbai:Market benchmark indices Sensex and Nifty ended with marginal gains on Thursday after falling in the past three days, helped by fag-end buying in energy, telecom and utility stocks.
Investors remained cautious amid renewed foreign fund outflows and prevailing risk-off sentiments, traders said. In a highly volatile trade, the 30-share BSE Sensex climbed 64.55 points or 0.11 per cent to settle at 59,632.35. During the day, it hit a high of 59,836.79 and a low of 59,489.98. The broader NSE Nifty went up by 5.70 points or 0.03 per cent to finish at 17,624.45.
“The ongoing Q4 earnings is the focus area of the market. It has a negative bias due to lower-than-anticipated initial results announced, especially in the IT sector. The global market has been unsupportive due to expectation of another rate hike and mixed earnings released in the US. Given cautious global sentiment, withdrawal by FIIs during the week has hampered the market trend,” said Vinod Nair, Head of Research at Geojit Financial Services.
Falling for the third day, the BSE Sensex declined 159.21 points or 0.27 per cent to settle at 59,567.80 on Wednesday. The Nifty dipped 41.40 points or 0.23 per cent to end at 17,618.75. Meanwhile, global oil benchmark Brent crude declined 1.89 per cent to USD 81.55 per barrel. Foreign Portfolio Investors (FPIs) offloaded equities worth Rs 13.17 crore on Wednesday, according to exchange data.
Among the Sensex firms, Asian Paints, NTPC, Tata Motors, Bharti Airtel, State Bank of India, Larsen & Toubro, Wipro, Tech Mahindra, Tata Consultancy Services, ITC, HDFC Bank and Maruti were the biggest winners. Hindustan Unilever, Infosys, UltraTech Cement, Bajaj Finance, Nestle, Axis Bank, Reliance Industries and HDFC were among the laggards.
