Stock markets in India continued to trade flat in the afternoon session amid weak global markets as expectations of a US interest rate hike weighed on sentiment.
Late recovery helped equity benchmarks close Friday’s session on a flat note but posted weekly loss for the first time in last six consecutive weeks. Value buying in Reliance Industries and short covering in Infosys offset weakness banking & financials stocks and ITC. Caution continued ahead of assembly elections results next week and Federal Reserve policy meeting on March 14-15.
NSE Nifty closed at 8,897 levels, down by 2 points or 0.02%, while BSE Sensex closed at 28,832 levels, down by 7 points or 0.03%.
Asian stock markets finished lower today with shares in Hong Kong leading the losses. The Hang Seng was down 0.74% while Japan’s Nikkei 225 fell 0.49% and China’s Shanghai Composite was lower by 0.34%. European markets too are lower today with shares in Germany off the most. The DAX is down 0.37% while London’s FTSE 100 is off 0.31% and France’s CAC 40 is lower by 0.11%.
Bharti Infratel was the top Nifty gainer whereas, Bosch was the top Nifty loser in Friday’s trading session.
The BSE Mid-cap Index closed up 0.2% at 13,409 whereas, BSE Small-cap Index closed up 0.3% at 13,620.
A2Z Infra spiked nearly 5% as the company received a letter of award for nearly $7.66 billion. The stock closed at Rs 41 per share, up by Rs 1 per share or 4.6%.
Sugar stocks rallied post the ISMA report. The biggest gainer in the sugar industry on Friday was Dhampur Sugar. The stock closed at Rs 209 per share, up by Rs 23 per share or 12%.
Ruchira Papers zoomed with gains of more than 3%. The stock touched its intraday high of Rs 142.3 per share, up by 3.26%. The stock closed at Rs 140 per share up by Rs 2.9 per share or 2.1%.
ITI closed at Rs 47 per share, up by Rs 4 per share or 11.2%.
Dhampur Sugar closed at Rs 209 per share, up by Rs 23 per share or 12%.
Dalmia Sugar closed at Rs 182 per share, up by Rs 14 per share or 8.9%.
Tata Investment Corporation closed at Rs 642 per share, up by Rs 52 per share or 8.9%.
There were 737 advances, 876 declines and 308 unchanged stocks on NSE, reflecting flattish undertone floating in the market.
The rupee was trading at 68.80 per US dollar.
Top 5 Nifty Gainers: Bharti Infratel Ltd. (6.14%), Hindalco Industries Ltd. (4.96%), GAIL (3.53%), Grasim Industries Ltd. (2.66%) and Reliance Industries Ltd. (1.77%).
Top 5 Nifty Losers: Bosch Ltd. (-2.21%), HDFC (-2.04%), Ambuja Cements Ltd. (-1.55%), Asian Paints (-1.34%) and Eicher Motors Ltd. (-1.20%)
To qualify NCFM Capital Market Dealers Module certification examination, register with Intelivisto.com and buy Capital Market comprehensive question bank which features mock test, chapter-wise and full length test as per NCFM standards. It also includes performance analysis tools to analyze the performance. For more information call on: +91-9891224488.