Equities close flat ahead of macro-data release

Mumbai, Feb 13:  Indian equities markets closed on a flat-to-positive note on Monday as positive global cues and inflow of foreign funds buoyed investors’ sentiments.

However, caution prevailed ahead of the release of key macro-economic inflation data points — the Consumer Price Index (CPI) and Wholesale Price Index (WPI) — slated to be released on February 13 and 14.

Besides, a weak rupee and disappointing IIP (Index of Industrial Production) data released after the markets closed on Friday, kept investors’ sentiments subdued.

The key indices closed margilly in the green even as profit-booking capped gains. The wider 51-scrip Nifty of the tiol Stock Exchange (NSE) rose by 11.50 points or 0.13 per cent to 8,805.05 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 28,450.42 points, closed at 28,351.62 points — up 17.37 points, or 0.06 per cent, from the previous close at 28,329.70 points.

The Sensex touched a high of 28,458.80 points and a low of 28,197.38 points during the intra-day trade.

The BSE market breadth was, however, tilted in favour of the bears — with 1,787 declines and 1,081 advances.

“Markets ended with margil gains on Monday after witnessing a volatile session,” Deepak Jasani, Head – Retail Research, HDFC Securities, told IANS.

“Major Asian markets ended on a positive note. European indices like FTSE 100, CAC 40 and DAX traded higher.” Vijay Singhania, founder and Director of brokerage firm Trade Smart Online, pointed out that it was a lacklustre day on the bourses with the broad market indices moving in a rrow range.

In terms of broader markets, the BSE mid-cap index fell by 0.37 per cent, while the small-cap index was down by 0.57 per cent.

“Banking stocks were in the limelight, especially the public sector ones — which fell by early 3 per cent — on the back of poor performance by banks in the recent quarter,” Singhania said.

“All eyes are now on CPI inflation numbers that are expected later in the evening.”

According to Dhruv Desai, Director and Chief Operating Officer of Tradebulls, profit booking and recovery in USD/INR futures restricted the upside of Indian equities markets.

“IT, banking, pharma, auto, oil-gas, textile and aviation stocks traded with mixed sentiments, while FMCG, cement and power stocks traded lower due to selling pressure,” Desai added.

The Indian rupee weakened by 14 paise to 67.02 against a US dollar from its previous close of 66.88 to a greenback.

In terms of investments, the provisiol data with exchanges showed that foreign institutiol investors (FIIs) purchased stocks worth Rs 306.74 crore, whereas the domestic institutiol investors (DIIs) divested scrip worth Rs 171.70 crore.

Sector-wise, the S&P BSE IT index surged by 86.27 points, followed by the Teck (technology, media and entertainment) index, which edged up by 37.82 points, and the metal index, which rose by 35.85 points.

On the other hand, the S&P BSE consumer durables index declined by 139.91 points, the capital goods index declined by 78.83 points, and the healthcare index slipped by 62.15 points.

Major Sensex gainers on Monday were: Mahindra and Mahindra (M&M), up 1.80 per cent at Rs 1,301; Infosys, up 1.60 per cent at Rs 983.50; Power Grid, up 1.60 per cent at Rs 203.05; Hindustan Unilever (HUL), up 1.31 per cent at Rs 861.60; and Wipro, up 1.21 per cent at Rs 473.75.

Major Sensex losers were: State Bank of India (SBI), down 1.76 per cent at Rs 271.40; Maruti Suzuki, down 1.44 per cent at Rs 6,022.55; Hero MotoCorp, down 1.23 per cent at Rs 3,226.40; Coal India, down 1.23 per cent at Rs 320.75; and Lupin, down 1.17 per cent at Rs 1,447.50. (IANS)