Markets close on flat-to-negative note

The Indian equity markets on Friday closed on a flat-to-negative note as profit booking, along with outflow of foreign funds and broadly lower global indices, subdued investors' sentiments. However, value buying aided the key domestic indices to pare some of their losses during the second half of the session, reports IANS. The 51-scrip Nifty of the National Stock Exchange (NSE) slipped by 6.35 points or 0.07 per cent to 8,693.05 points. The barometer 30scrip sensitive index (Sensex) of the BSE, which opened at 28,163.41 points, closed at 28,077.18 points down 52.66 points or 0.19 per cent from the previous close at 28,129.84 points. The Sensex touched a high of 28,163.41 points and a low of 27,957.92 points during the intra-day trade. In contrast, the BSE market breadth was tilted in favour of the bulls -- with 1,452 advances and 1,333 declines.

On Thursday, the equity markets had ended higher on the back of strong Asian cues. The barometer index had gained 145.47 points, or 0.52 per cent to 28,129.84 points, while the NSE Nifty closed higher by 40.30 points or 0.47 per cent to 8,699.40 points. According to Dhruv Desai, director and chief operating officer of Trade-bulls, "CNX Nifty traded with volatile sentiments in intraday session due to profit booking at higher levels."

"IT, oil-gas, media-entertainment and FMCG stocks witnessed good buying support, while banking and pharma stocks faced profit booking at higher levels," Desai said. He added that firm USD/INR futures prices limited Nifty's upside movement. The Indian rupee weakened by eight paise to 66.89 against a US dollar from its previous close of 66.81 to a greenback.

In terms of investments, provisional data with the stock exchanges showed that the foreign institutional investors (FIIs) sold stocks worth Rs 272.91crore, whereas the DIIs invested Rs 500.37 crore.

Sector-wise, S&P BSE consumer durables index, receded by 220.21 points, the metal index declined by 64.25 points and the energy index fell by 25.06 points. The S&P BSE IT index augmented by 71.03 points, the bank index edged higher by 42.97 points and the capital goods index gained by 39.84 points.