Benchmarks close flat to negative in a choppy session

Benchmark stock indices Sensex and Nifty closed almost unchanged in a highly volatile trade on Friday as investors stayed on the sidelines ahead of key macroeconomic data announcements in post-market hours.

Halting its two-day rally, the 30-share BSE Sensex slipped by 13.71 points or 0.02 per cent to settle at 85,706.67. During the day, it hit a high of 85,969.89 and a low of 85,577.82, gyrating 392.07 points. The 50-share NSE Nifty skidded 12.60 points or 0.05 per cent to 26,202.95. The key indices had raced to record highs in intra-day trade on Thursday but ended almost flat due to profit-taking by investors in the second half of the session.

“Markets traded lacklustre on Friday and ended almost unchanged, taking a breather after hitting fresh record highs,” Ajit Mishra, SVP, Research, Religare Broking Ltd, said. Fresh foreign fund outflows and largely muted global market trends kept the stock markets rangebound, analysts said.

Among Sensex firms, Power Grid, Eternal, Bharti Airtel, Axis Bank and Infosys were the biggest laggards. However, Mahindra & Mahindra, Sun Pharma, Kotak Mahindra Bank and State Bank of India were among the major gainers.

The BSE smallcap gauge dipped 0.13 per cent and midcap index edged marginally lower by 0.04 per cent. Among sectoral indices, oil & gas declined 0.97 per cent, telecommunication (0.91 per cent), energy (0.64 per cent), power (0.57 per cent) and utilities (0.37 per cent).

Auto, consumer discretionary, healthcare, metal and services were among the winners. On the weekly front, the BSE benchmark climbed 474.75 points or 0.55 per cent, and the Nifty went up by 134.8 points or 0.51 per cent.

Vinod Nair, Head-Research, Geojit Investments Limited, said, “Indian equities stayed resilient, even as selective profit booking emerged in the broader market after the recent upswing.”

Official data released in post-market hours showed that the Indian economy recorded a six-quarter high growth of 8.2 per cent in July-September, as factories churned out more products in anticipation of a consumption boost from the GST rate cut. The government will release IIP data on Monday, December 1.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,255.20 crore on Thursday, while Domestic Institutional Investors (DIIs) bought stocks worth Rs 3,940.87 crore, according to exchange data.