Indian benchmarks Sensex and Nifty closed on a flat note on Wednesday, in line with weak global cues. Sensex fell 17 points to end at 60,910 and Nifty lost 10 points to close at 18,122.
Top losers
Bharti Airtel (1.39%), Tata Steel (1.08%), Bajaj Finserv (0.86%), Ultratech Cement (0.83%), Axis Bank (0.81%) and Tata Motors (0.70%) were the top Sensex losers.
Top gainers
Titan (3.10%), M&M (1.57%), Maruti (1.53%) and PowerGrid (1.46%) were the top gainers on Sensex. Market breadth was positive with 2017 shares closing higher against 1469 stocks falling on BSE. 143 shares were unchanged.
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Vinod Nair, Head of Research at Geojit Financial said, “Market wavered between gains and losses with investors taking their position around the flatline as mixed global cues troubled them to take a firm one-sided move. US stocks were weak as the trade deficit data suggested strength in the economy, raising concerns about the Fed’s tightening stance. However, steps toward reopening the Chinese economy increased the prospect of demand recovery.”
Consumer durables, auto, oil and gas shares were the top sectoral gainers with their BSE indices rising 611 points, 200 pts and 251 points, respectively.
Market cap of BSE-listed firms settled at Rs 281.12 lakh crore. BSE mid cap and small cap indices rise 58 points and 128 points, respectively.
Ajit Mishra, VP – Technical Research, Religare Broking said, “The benchmark indices traded dull and ended almost flat amid mixed cues. After the initial downtick, the Nifty spent the entire day in a narrow band however the tone was on the positive side, thanks to buying select index majors. And, it finally settled at 18,122.50 levels. Among the sectoral pack, auto, energy and select PSU banks were in the limelight while defensive viz. pharma and FMCG traded subdued. Indications are pointing towards a range-bound trend to continue in Nifty and we expect stock-specific moves to keep the participants occupied, thanks to the scheduled expiry of December month derivatives contracts. Besides, the broader indices are also showing some stability so participants can selectively look for buying opportunities.”
Previous session
Indian equity market ended higher for the second straight session on Tuesday, following a firm trend in the global markets. Extending its previous day’s rally, Sensex jumped 361.01 points to close at 60,927.43. During the day, it rallied 420.26 points to 60,986.68. Nifty climbed 117.70 points or 0.65 per cent to close at 18,132.30.