NSE Nifty ends flat, investors cautious ahead of Budget
Domestic bourses witnessed lacklustre activity as investor sentiment remained cautious, a day after the markets saw biggest sell-off in seven months, with the benchmark CNX Nifty ending almost flat on National Stock Exchange (NSE) today.
The 50-share index fluctuated between a high of 5,873.80 and a low of 5,835.80 before settling at 5,850.30, down 1.95 points, or 0.03 per cent, over the previous close.
Equities across the global came under intense selling pressure yesterday after the US Federal Reserve hinted at possible scaling back of the quantitative easing (QE) measures earlier than expected on the back of improving American economy and indicating a likely rise in interest rates.
After a weak start, the benchmark regained some momentum, aided by select buying in beaten-down frontline stocks, and moved in a narrow range as nervous investors refrained from any major commitments ahead of the Budget next week and prevailing uncertainty in global markets.
Trading remained in a tight range throughout the session.
Technology, pharma, energy, infra and bank stocks saw good buying interest. Counters like FMCG, auto and metal remained under selling pressure.
Globally, Asian markets rebounded to erase earlier losses but ended mixed as weak economic growth in Europe and uncertainties surrounding over the US Federal Reserve QE measures capped major gains.
HUL, Coal India, JP Associates, Maruti, HDFC, Siemens, ITC, Tata Motors, BHEL and HDFC Bank were top Nifty losers. Smart movers included Bharti Airtel, DLF, Wipro, Power Grid, Sun Pharma, PNB, ICICI Bank, Jindal Steel, Infosys and Lupin.
Turnover in the cash segment fell sharply to
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