Sensex flat with negative bias; Nifty trades at 9625

Indian benchmark indices opened flat on Friday tracking the global cues with BSE Sensex edges below 31,200, down 16 points at 31,196.36 points while NSE Nifty was down 8 points at 9,638.55 points.

At 9.31 a.m, the Sensex was trading down 38.19 points or 0.12% at 31,174.81 with 17 components falling.

However, late buying helped it stage a strong comeback to wipe off day's losses to scale a high of 31,289.99 before ending 48.70 points, or 0.16 per cent, higher at 31,262.06.

Both these indices outperformed the Sensex.

The IT sub-index of NSE fell almost 1.2 per cent. Reserve Bank of India's (RBI) monetary policy review and general elections in United Kingdom were among theimportant events that kept investors guessing about the direction of market during the week.

"The S&P BSE mid-cap index rose by 0.49 per cent and the S&P BSE mall-Cap index by 1.55 per cent".

"Throughout the week, traders and investors remained jittery amid multiple global events".

"The public sector banking stocks were in action on media reports which stated that the government was examining the possibility of further consolidation in the public sector banking space without waiting for their finances to improve".

Meanwhile, foreign portfolio investors (FPIs) and foreign institutional investors (FIIs) sold shares worth Rs 1,184.37 crore during the week, as per Sebi's record including the provisional figure of June 09.

Besides, the depreciating rupee against the USA dollar also added to the dampened sentiment.

Sectoral indices led by IT, teck, consumer durables, auto, realty, healthare and banking stocks were trading in the negative zone.

Index gainers were, Maruti 4.73 percent, Cipla 4.04 percent, Dr Reddy 3.03 percent, Tata Steel 2.99 percent, HDFC 2.16 percent, Sun Pharma 1.94 percent, HDFC Bank 1.90 percent, ICICI Bank 1.41 percent, Axis Bank 1.10 percent, Reliance 0.81 percent, BajajAuto 0.75 percent and Adaniport 0.71 percent. In line with overall trend, Infosys too shed 0.54 per cent to Rs 956.30, while Wipro lost 0.06 per cent to Rs 548.50.

  • Zachary Reyes