Markets stay flat even as Sensex, Nifty face more losses

Indian equity markets trade flat on first demonetisation anniversary rupee off to a weak start

The Indian rupee opened weak at Rs 65.13 per dollar. At 0921 hours the rupee was trading at Rs 64.80 per dollar. Image Source Zeebiz

Surrendering early gains, benchmark Sensex tumbled 360 points to end at 33,370.76 today as wary investors booked profits amid fears of a flare-up in crude oil prices following the shakedown in Saudi Arabia.

Around 12.45 p.m., the wider Nifty50 of the National Stock Exchange (NSE) traded lower by 16.80 points, or 0.16 per cent, at 10,292.15 points.

Shares in the other Asian markets hovered near a decade high on Thursday.

However, it succumbed to profit-booking in late afternoon trade and slumped to 33,157.68, before finishing at 33,218.81, down 151.95 points or 0.46 per cent.

The 30-scrip S&P BSE Sensex closed at 33,314.56 points - up 63.63 points or 0.19 per cent - from Thursday's close. "Market shows signs of consolidation as investors took one step back from riskier assets due to rising oil price and the resultant impact on inflation and deficit", said Vinod Nair, Head of Research, Geojit Financial Services.

More news: North Korea, trade top Trump's agenda in China

All the sectoral indices led by metal, auto and oil & gas were trading in the negative terrain, falling by up to 0.92 per cent.

On the other hand, the S&P BSE IT index rose by 41.50 points and Teck (technology, media and entertainment) index by 5.56 points. Domestic institutional investors (DIIs) sold shares worth a net Rs 263.84 crore.

Nearly half of the stocks traded in green with Axis Bank, Asian Paints, Cipla and Sun Pharma posting gains to the tune of 3.41%, 2.51%, 2.07% and 1.89%, respectively.

Major Sensex gainers on Friday were: SBI, up 6.20 per cent at Rs 333.20; LT, up 3.90 per cent at Rs 1,264.05; HUL, up 2.99 per cent at Rs 1,290.75; M&M, up 2.34 per cent at Rs 1,393.40; and ICICI Bank, up 2.25 per cent at Rs 318.60. Key indices in Hong Kong, Singapore, Japan, China, Singapore and Taiwan ended higher by 0.50 per cent to 1.73 per cent. The UK's FTSE too inched up by 0.07 per cent.

Latest News