Markets end flat on profit-booking
Market benchmark Sensex ended lower on Thursday after giving up its early gain of over 265 points on fag-end selling in healthcare and realty stocks, while other emerging markets perked up after the US Federal Reserve maintained a status quo on policy rate.
Sensex down by 5 points while Nifty edges up 13 points
Mumbai : Market benchmark Sensex ended lower on Thursday after giving up its early gain of over 265 points on fag-end selling in healthcare and realty stocks, while other emerging markets perked up after the US Federal Reserve maintained a status quo on policy rate.
However, the NSE Nifty managed to eke out a small gain and closed above the crucial 7,500-mark. Though the first half was upbeat, tracking global peers on Fed’s dovish stance, things changed dramatically later as profit-booking emerged, capping broader advances.
Market has remained buoyant since the Budget on widespread expectations that RBI would reciprocate the government’s commitment to fiscal prudence with a rate cut sooner than later, after a survey showed that services sector activity fell to a three-month low amid muted growth in new orders.
Sensex started-off on a strong foot and advanced further to hit a high of 24,948.30 points, however, on selling in blue-chips like healthcare, it slipped into the negative zone to a low of 24,576.52, before settling 5.11 points or 0.02 per cent lower at 24,677.37. The NSE Nifty continued its upward journey and gained 13.80 points or 0.18 per cent to end at 7,512.55.
Of the 30-share Sensex pack, 17 scrips ended higher while 13 finished lower. Major gainers were BHEL (4.23 pc), GAIL (4.04 pc), Adani Ports (3.09 pc), ONGC (2.95 pc), L&T (0.93 pc), Bajaj Auto (0.90 pc), Axis Bank (0.87 pc), TCS (0.81 pc), Hero MotoCorp (0.77 pc) and Infosys (0.71 pc).
However, Lupin dropped by 4.23 per cent followed by Cipla 1.54 per cent, HDFC 1.44 per cent, HDFC Bank 1.25 per cent, M&M 1.15 per cent, Tata Steel 1.14 per cent, Dr Reddy’s 1.07 per cent and Sun Pharma 1.01 per cent.
Among BSE sectoral and industry indices, oil&gas rose by 2.26 per cent, capital goods 1.08 per cent, IT by 0.88 per cent, teck by 0.88 per cent and telecom 0.77 per cent while healthcare dropped by 1.24 per cent, realty 0.94 per cent and auto 0.19 per cent. The market breadth remained negative as 1,309 shares ended lower, 1,303 closed higher while 183 ruled steady.