Mkts end flat amid volatility
The markets ended flat on Tuesday amid volatile trades as investors tempted to book profits at higher levels. The investor sentiment continued to be lower following unhealthy conditions of Chinese economy hitting metal and oil stocks.
Mumbai: The markets ended flat on Tuesday amid volatile trades as investors tempted to book profits at higher levels. The investor sentiment continued to be lower following unhealthy conditions of Chinese economy hitting metal and oil stocks. In the domestic front, apex court upheld the ban on diesel vehicles in Delhi as seen a setback to the automobile manufacturers. While oil prices rebounded following tensions between Saudi Arabia and Iran.
Sensex closed down by 43 points at 25,580 and Nifty down by 9 points at 7,782. Meanwhile, broader markets outperformed index shares with midcap and smallcap indices ended 0.6 per cent and 0.7 per cent each. On sectoral front, banks, auto and IT shares came under selling pressure, while oil and gas, metal and consumer durables shares gained.
From metal pack, the stocks rallied in a flat market with Tata Steel gained 6 per cent followed by Vedanta, Jindal, NMDC gained up to 5 per cent each. The other sector, Oil and Gas also registered gains after crude prices rising for the second day, as GAIL, ONGC, Cairn Indo and RIL gained up to 3 per cent.
The gainers: Tata Steel, up 6.65 per cent at Rs 274.10; Gail, up 3.60 per cent at Rs 372.85; Asian Paints, up 2.29 per cent at Rs 900.85; ONGC, up 1.47 per cent at Rs 241.80 and Reliance Industries, up 0.97 per cent at Rs 1,005.10.
The losers: Coal India, down 1.35 per cent at Rs 326.05; State Bank of India (SBI), down 1.22 per cent at Rs 218.25; Hindustan Unilever, down 1.09 per cent at Rs 847.80; Tata Consultancy Services (TCS), down 1.06 per cent at Rs 2,350.35; and NTPC, down 0.97 per cent at Rs 142.35.