Mkts end flat in lackluster trading

Mkts end flat in lackluster trading
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Mumbai: Benchmark Sensex and Nifty closed marginally down in a range-bound session on Thursday as investors booked profits in heavyweights ahead of...

Mumbai: Benchmark Sensex and Nifty closed marginally down in a range-bound session on Thursday as investors booked profits in heavyweights ahead of the announcement of key financial results for the June quarter. Retreating from early highs, the 30-share BSE Sensex closed lower by 27.43 points or 0.03 per cent at 79,897.34. As many as 15 Sensex shares closed with gains, while the rest declined. The index climbed 245.32 points to hit a high of 80,170.09 in early trade, but later lost momentum due to selling in index heavyweights. The barometer hit a day’s low of 79,464.38, down by 460.39 points from the last close. The NSE Nifty edged down 8.50 points or 0.03 per cent to settle at 24,315.95. The broader index gyrated between a high of 24,402.65 and a low of 24,193.75 in day trade. Market capitalisation (mcap) of BSE-listed companies rose by Rs1.15 lakh crore to Rs4,51,20,853.89 cr (Rs451.20 lakh cr or $5.40 trn). “The main indices are trading in a narrow range, struggling to justify its premium valuation ahead of the Q1 earnings season, which is forecast to be subdued. Attention is now focused on the US inflation data, which is estimated to moderate and positively influence Fed's interest rate decisions,” said Vinod Nair, head (research), Geojit Financial Services.

Among the indices, realty declined by 1.41 per cent, auto by 0.43 per cent and utilities by 0.19 per cent. Oil & Gas jumped 1.68 per cent, while energy (1.20%), services (1.13%), industrials (0.31%) and telecommunication (0.24%) also advanced.

“After the flat start, the Nifty oscillated in a range and finally settled at 24,315.95 levels. Meanwhile, a mixed trend on the sectoral front kept the traders occupied wherein energy and FMCG ended in the green while realty and pharma closed lower,” added Ajit Mishra, Sr V-P (research), Religare Broking Ltd.

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