February 21, 2018

Indian equities trade on a flat note

10 May 2017, 04:30 | Frank Carlson

Indian equities trade on a flat note

HUL was the top gainer in the S&P BSE FMCG Index and closed at Rs995.90 up 4.6% Tuesday’s closing

Among BSE sectoral indices, metal index gained the most by 1.2 per cent, followed by realty 1.1 per cent, capital goods 0.97 per cent and power 0.96 per cent.

BSE Mid-cap index closed higher by 0.19% at 14,821.

Major Sensex losers were: ITC, down 1.48 per cent at Rs 272.95; HDFC, down 1.08 per cent at Rs 1,529.80; Larsen and Toubro, down 0.94 per cent at Rs 1,708.65; Bajaj Auto, down 0.94 per cent at Rs 2,863; and Adani Ports, down 0.75 per cent at Rs 342.30.

Bucking the trend, shares of Bharti Airtel were down 0.73% to Rs 348.70 ahead of the quarterly earnings to be announced later in the day.

Banks gained on Monday after India tweaked its laws last week to help tackle a record $150 billion in bad loans, a move aimed at pushing reluctant lenders towards writedowns and errant borrowers into insolvency.

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However, telecom fell 0.76 per cent, consumer durables 0.63 per cent, bankex 0.19 per cent, finance 0.18 per cent and healthcare 0.11 per cent. The NSE Nifty too was quoting 24.90 points, or 0.26 per cent, higher at 9,338.95. Both stocks had traded in the green in the previous four sessions.

It was a mixed bag for Asian equities, with Hong Kong's Hang Seng rising 1.27 per cent and Shanghai Composite Index gaining 0.06 per cent. Japan's Nikkei, however, shed 0.26 per cent.

"Banking sector stocks faced resistance at higher levels throughout the session and traded with mixed sentiments, whereas aviation sector stocks extended previous session's gains on strong buying support", Desai told IANS.

"Nifty shifted into minor upside move today and closed the day higher by around 28 points led by cement and bank stocks on a low volume day".

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