In­dian equity in­dices cede ma­jor gains to end flat

The Gulf Today - Business - - REGION -

MUM­BAI: Broadly neg­a­tive global mar­kets ahead of US Fed­eral Re­serve’s rate set­ting meet led the key do­mes­tic equity in­dices to pro­vi­sion­ally close on a flat-to-pos­i­tive note on Wed­nes­day.

Ac­cord­ing to mar­ket an­a­lysts, do­mes­tic in­dices had risen dur­ing the af­ter­noon trade ses­sion on the back of higher April in­dus­trial pro­duc­tion but soon ceded their gains.

Be­sides, the day’s trade saw healthy buy­ing in IT, con­sumer durables and bank­ing coun­ters, whereas heavy sell­ing pre­vailed in cap­i­tal goods, metal and FMCG stocks.

At 3.30 pm, the broader Nifty50 of the Na­tional Stock Ex­change (NSE) pro­vi­sion­ally at 10,856.70 points − inch­ing-up by 13.85 points or 0.13 per cent − from its previous close of 10,842.85 points.

The barom­e­ter 30-scrip Sen­si­tive In­dex (Sensex), which had opened at 35,835.44 points, closed at 35,739.16 points (3.30 pm) − higher by just 46.64 points or 0.13 per cent − from its previous ses­sion’s close of 35,692.52 points.

Sensex touched a high of 35,877.41 points and a low of 35,715.96 points dur­ing the in­tra­day trade. The BSE mar­ket breadth was slightly tilted to­wards the bears with 1,381 de­clines against 1,296 ad­vances.

The top gain­ers on the Sensex were Dr Reddy’s Lab, Tata Con­sul­tancy Ser­vices (TCS), State Bank of In­dia (SBI), Power Grid and In­fosys whereas Tata Steel, Adani Ports, Hin­dus­tan Unilever, Bharti Air­tel and ONGC were the ma­jor losers.

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