Equities Close Flat On Global Cues, Selling Pressure In Auto Stocks
MUMBAI: After a volatile day of trade, the Indian equity markets on Wednesday closed on a flat but marginally red note as negative global cues, outflow of funds and heavy selling pressure in automobile, metal, and oil and gas stocks subdued investors' sentiments.
The wider Nifty of the National Stock Exchange (NSE) fell by 19.90 points, or 0.21 pct, to close at 9,633.60 points.
The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,302.18 points, closed at 31,283.64 points -- down 13.89 points, or 0.04 pct, from its previous close at 31,297.53 points.
The Sensex touched a high of 31,336.44 points and a low of 31,193.61 points during intra-day trade.
The BSE market breadth was bearish -- with 1,366 declines and 1,266 advances.
However, the broader market indices outperformed the Sensex. The S&P BSE mid-cap index was up 0.04 pct and the small-cap index by 0.11 pct.
"Markets ended with marginal losses on Wednesday after a volatile session. Negative global cues spoiled investors' sentiment," Deepak Jasani, Head - Retail Research, HDFC Securities, told IANS.
"Major Asian markets have ended on a mixed note. European indices like FTSE 100, CAC 40 and DAX traded lower."
On the currency front, the rupee weakened by 2-3 paise to 64.52-53 to a US dollar from its previous close of 64.50.
In investments, provisional data with the exchanges showed that foreign institutional investors (FIIs) sold stocks worth 
152.82 crore, while domestic institutional investors (DIIs) divested scrips worth 41.39 crore.
"The equity benchmarks closed in the negative, but it was rangebound in today's session with bears and bulls both gaining nothing. Lack of domestic or global cues confirmed the rangebound sentiment," said Dhruv Desai, Director and Chief Operating Officer of Tradebulls.
"Inspite of rangebound market today, the turnover was more than yesterday (Tuesday). Airline stocks rose on expectations of lower jet fuel prices," he added.
Sector-wise, the S&P BSE automobile index declined by 159.37 points, the metal index by 135.94 points, and the oil and gas index by 118.32 points.
On the other hand, the S&P BSE FMCG index rose by 74.30 points, the realty index by 10.77 points and the capital goods index by 10.46 points.
Major Sensex gainers on Wednesday were: Hindustan Unilever, up 2.52 pct at 1,123.70; Kotak Bank, up 0.85 pct at Rs .91; Sun Pharma, up 0.80 pct at 528; Wipro, up 0.73 pct at 255.90; and Maruti Suzuki, up 0.71 pct at 7,266.35.
Major Sensex losers were: Tata Motors, down 2.11 pct at Rs 457.30; ONGC, down 2.10 pct at 165.15; Lupin, down 1.63 pct at 1,094.25; Adani Ports, down 1.58 at 369.75; and Tata Consultancy Services, down 1.45 pct at 2,406.05.
Read Also:
IT Spend In Indian Banking And Securities Industry To Grow 8.6 Pct In 2017
