Sensex closes flat; metal stocks rise


Mumbai, April 10 (IANS): A benchmark index of Indian equities markets, the 30-scrip Sensitive Index (Sensex), ended flat in Friday's trade, despite metal, oil and gas and automobile stocks making gains.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) also closed flat. It ended the day's trade up 2.05 points or 0.02 percent at 8,780.35 points.

The Sensex of the S&P Bombay Stock Exchange (BSE), which opened at 28,889.27 points, ended trade at 28,879.38 points, down 5.83 points or 0.02 percent from the previous day's close at 28,885.21 points.

The Sensex touched a high of 28,907.81 points and a low of 28,756.75 points in the intra-day trade.

Charting Friday's trade, an analyst said the Indian markets which opened on a positive note slipped into negative zone soon after opening, as investors were looking for triggers from both the global and domestic front ahead of the quarterly numbers.

"Market remained volatile with profit booking in private banks and pharma sectors. March CPI inflation to be released on Monday will be important as the trajectory of inflation will help understand RBI’s future rate cut decisions," said Vinod Nair, head - fundamental research, Geojit BNP Paribas Financial Services.

"Impact from reduced demand from rural and international market, currency fluctuations and reduction in global commodity prices are likely to reflect in fourth-quarter numbers," Nair added.

Healthy buying was observed in metals, oil and gas, automobile, consumer durables and fast moving consumer goods (FMCG) sectors. However, banking, capital goods and healthcare stocks came under selling pressure.

The S&P BSE metal index was higher by 72.34 points, followed by oil and gas index which gained 46.30 points, automobile index rose 55.51 points, consumer durables index gained 36.16 points and FMCG index rose 32.99 points.

However, banking index was down 76.08 points, capital goods index was lower by 55.72 points and healthcare index fell by 33.89 points.

The major Sensex gainers on Friday were: Sesa Sterlite, up 3.65 percent at Rs.201.70; State Bank of India (SBI), up 1.85 percent at Rs.285.65; Dr.Reddy's Lab, up 1.62 percent at Rs.3,800.15; Bharti Airtel, up 1.12 percent at Rs.411.35; and Infosys, up 0.99 percent at Rs.2,233.30.

The losers were: Cipla, down 2.66 percent at Rs.700.05; HDFC Bank, down 1.53 percent at Rs.1,040; Hindalco Inds, down 1.46 percent at Rs.137.90; HDFC, down 1.12 percent at Rs.1,290.30; and Hero MotoCorp, down 0.99 percent at Rs.2,584.25.

 

  

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Title: Sensex closes flat; metal stocks rise



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