Mumbai: India’s barometer indices ended largely flat in Thursday’s trade marked by volatility, as investors remained cautious ahead of a key economic data and as tension between the government the RBI continued to brew.
The stock indices ignored firm global cues, even as as a stronger rupee amid a decline in international crude oil prices failed to cheer investors.
The Sensex settled 10.08 points lower at 34,431.97. It had opened at 34,650.63 from its previous close of 34,442.05.
It touched an intra-day high of 34,679.93 points and a low of 34,303.38 points.
The NSE Nifty closed 6.15 points down at 10,380.45.
Barring the export-oriented counters, which struggled due to a recovering rupee, almost all the BSE sectors closed in a positive territory.
Among Sensex constituents, Infosys emerged worst performer by plunging 2.90 per cent, Wipro shed 0.47 per cent and TCS down 0.15 per cent. Other laggards include Coal India falling 1.90 per cent, NTPC 1.85 per cent, Sun Pharma 1.31 per cent, Asian Paint 0.82 per cent, ITC Ltd 0.82 per cent, Kotak Bank 0.82 per cent, ICICI Bank 0.48 per cent, HDFC 0.44 per cent, RIL 0.42 per cent, HUL 0.40 per cent and HDFC Bank 0.03 per cent.
Private-sector lender Yes Bank was the top gainer in the Sensex pack by surging 8.35 per cent in its biggest daily gain since October 11. Shares of Larsen and Toubro (L&T) climbed 2.65 per cent after the company reported 28.36 per cent jump in its consolidated net profit for the quarter ended September, 2018.
Also, Axis Bank, IndusInd Bank, SBI, PowerGrid, Vedanta Ltd, Tata Steel, ONGC, and Adani Ports gained up to 3.51 per cent.
According to analysts, currently many stocks are trading at oversold region while turnaround will happen on the basis of change in sector outlook or revival in earnings.
Signs of turnaround were seen in mid and small cap which continue to outperform the main indices, they added.
Among sectoral indices, the BSE IT index emerged worst performer by falling 1.78 per cent, followed by teck shedding 1.60 per cent, FMCG 0.65 per cent and healthcare 0.64 per cent.
However, capital goods index gained the most by rising 2.34 per cent, realty (2.27 per cent), metal (1.29 per cent), infrastructure (1.227 per cent), consumer durables (1.03 per cent) and bankex (0.8917 per cent), PSU (0.85 per cent), power (0.80per cent), oil & gas (0.70 per cent) and auto (0.05 per cent).
In the Asian region, Hong Kong’s Hang Seng surged 1.75 per cent, Singapore up 1.76 per cent, Taiwan gained 0.43 per cent, Shanghai Composite Index up 0.13 per cent. However, Japan’s Nikkei fell 1.06 per cent and Korea shed 0.26 per cent. (Agencies)
