Begin typing your search above and press return to search.

Profit booking subdues equity indices

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  3 Jan 2018 12:00 AM GMT

Mumbai, Jan 2: The key indices of the Indian equity market closed Tuesday’s trade session on a flat note after volatility was induced due to caution ahead of upcoming quarterly earning results, and profit booking.

Market alysts observed that heavy selling pressure in healthcare, capital goods and oil and gas stocks pared the initial gains made on the back of positive Asian markets.

Consequently, the 30-scrip S&P BSE Sensex, which had ended Monday’s session at 33,812.75 points, closed flat at 33,812.26 points.

Similarly, the tiol Stock Exchange’s (NSE) Nifty50 closed on a flat note at 10,442.20 points, up by a mere 6.65 points or 0.06 per cent.

“Markets ended with margil gains after a volatile session that saw the bulls and bears trying to domite the session altertely,” Deepak Jasani, Head, Retail Research, HDFC Securities, told IANS.

“Broad market indices like the BSE Mid Cap and Small Cap fell more, thereby underperforming the main indices. Major Asian markets have closed on a positive note.”

According to Vinod ir, Head of Research with Geojit Fincial Services: “Market remained subdued despite positive momentum in Asian market amid concern on introduction of long term capital gain tax and ahead of Q3 earnings season.” “The start for the year has been shaky and cautious as markets wait quarter results and all eyes on the Budget due on 1st February,” Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.

On the currency front, the Indian rupee strengthened by 20 paise to close at 63.48 against the US dollar from its previous close at 63.68.

Provisiol data with the exchanges showed that foreign institutiol investors purchased scrips worth Rs 522.74 crore while domestic institutiol investors bought stocks worth Rs 64.70 crore.

Sectorwise, the S&P BSE healthcare index fell by 107.64 points, capital goods index by 98.25 points and oil and gas index by 69.94 points.

On the other hand, S&P BSE metal index rose by 94.22 points, followed by automobile index by 23.05 points and power index by 7.73 points.

Major Sensex gainers on Tuesday were: Tata Motors DVR, up 4.24 per cent at Rs 252.95; Tata Motors, up 3.16 per cent at Rs 438.85; ONGC, up 2.36 per cent at Rs 196.95; Coal India, up 1.46 per cent at Rs 270.35; and NTPC, up 1.33 per cent at Rs 178.75.

Major Sensex losers were: Bharti Airtel, down 2.24 per cent at Rs 516.30; State Bank of India, down 1.35 per cent at Rs 302.90; Maruti Suzuki, down 1.24 per cent at Rs 9,545.15; Larsen and Toubro, down 1.01 per cent at Rs 1,249.10; and Axis Bank, down 0.91 per cent at Rs 559.70. (IANS)

Next Story