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Sensex, Nifty end flat in a choppy trade; FMCG, healthcare gain

Benchmark indices BSE Sensex and NSE Nifty swung between gains and losses for the second day in a row before closing with marginal gains on Thursday.

By: | New Delhi | Updated: September 15, 2016 5:01 PM
Sensex nifty bse nse Benchmark indices BSE Sensex and NSE Nifty swung between gains and losses for the second day in a row before closing with marginal gains on Thursday. (Photo: Reuters)

Benchmark indices BSE Sensex and NSE Nifty swung between gains and losses for the second day in a row before closing with marginal gains on Thursday. The 30-share index closed 40.66 points up at 28412.89, while the 50-share Nifty index settled 15.95 points higher at 8742.55. In the early trade, markets entered into negative terrain as traders maintained a cautious approach as September rainfall fell 15 percent below average, which could mean the season will end up in deficit. However, buying in the last leg of the trade in selected blue chip counters gave some support to markets.

In the Nifty 50-pack, YES Bank, Power Grid, Tata Steel, Axis Bank and Bajaj Auto slipped 2.31 per cent, 2.04 per cent, 2.03 per cent, 1.96 per cent and 1.41 per cent, respectively. On the other hand, BHEL, ZEEL, Reliance Industries, Maruti Suzuki and ITC gained 2.70 per cent, 2.33 per cent, 1.92 per cent, 1.64 per cent and 1.59 per cent, respectively.

Vinod Nair, head of research, Geojit BNP Paribas Financial Services said, “The market was volatile, but under a consolidation mode and settled with a minor gain. The investors have adopted a wait-and-watch approach to the global sentiment which is playing between cautious and optimism over the FOMC meet early next week. At present, foreign institutional investors are sellers in the market which also signal of a pause in the liquidity driven market.”

Among the sectoral indices on BSE, the BSE Consumer Durables index slipped the most — 0.97 per cent, followed by BSE Power index (down 0.94 per cent), BSE Bankex (down 0.58 per cent), BSE Auto (down 0.38 per cent) and BSE Oil & Gas index (down 0.27 per cent). On the other hand, BSE FMCG index, BSE Healthcare index and BSE Telecom index gained 0.66 per cent, 0.52 per cent and 0.29 per cent, respectively.

Weakness in other Asian markets ahead of key central bank meeting in Japan and the US next week restricted upward move in the domestic equity markets. Nikkei and Straits Times settled 1.26 per cent and 0.14 per cent down at 16405.01 and 2805.52, respectively. Hang Seng closed higher by 0.63 per cent at 23,335.59. The markets in China, South Korea and Taiwan were closed for public holidays.

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