Markets close flat; foreign fund outflows subdue sentiments

Mumbai, Oct 21 (IANS) The Indian equity markets on Friday closed on a flat-to-negative note as profit booking, along with outflow of foreign funds and broadly lower global indices, subdued investors' sentiments.

However, value buying aided the key domestic indices to pare some of their losses during the second half of the session.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) slipped by 6.35 points or 0.07 per cent to 8,693.05 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 28,163.41 points, closed at 28,077.18 points -- down 52.66 points or 0.19 per cent from the previous close at 28,129.84 points.

The Sensex touched a high of 28,163.41 points and a low of 27,957.92 points during the intra-day trade.

In contrast, the BSE market breadth was tilted in favour of the bulls -- with 1,452 advances and 1,333 declines.

On Thursday, the equity markets had ended higher on the back of strong Asian cues.

The barometer index had gained 145.47 points, or 0.52 per cent to 28,129.84 points, while the NSE Nifty closed higher by 40.30 points or 0.47 per cent to 8,699.40 points.

According to Dhruv Desai, Director and Chief Operating Officer of Tradebulls: "CNX Nifty traded with volatile sentiments in intraday session due to profit booking at higher levels."

"IT, oil-gas, media-entertainment and FMCG stocks witnessed good buying support, while banking and pharma stocks faced profit booking at higher levels," Desai said.

Desai added that firm USD/INR futures prices limited Nifty's upside movement.

The Indian rupee weakened by eight paise to 66.89 against a US dollar from its previous close of 66.81 to a greenback.

In terms of investments, provisional data with the stock exchanges showed that the foreign institutional investors (FIIs) sold stocks worth Rs 272.91crore, whereas the DIIs invested Rs 500.37 crore.

Sector-wise, Samp;P BSE consumer durables index, receded by 220.21 points, the metal index declined by 64.25 points and the energy index fell by 25.06 points.

The Samp;P BSE IT index augmented by 71.03 points, the bank index edged higher by 42.97 points and the capital goods index gained by 39.84 points.

Major Sensex gainers during Friday's trade were: Hindustan Unilever, up 1.26 per cent at Rs 851.10; Tata Consultancy Service (TCS), up 1.20 per cent at Rs 2,428.70; HDFC Bank, up 1.19 per cent at Rs 1,270.35; Dr.Reddy's Labs, up 1.08 per cent at Rs 3,108.85; and Wipro, up 0.75 per cent at Rs 499.20.

Major Sensex losers were: Axis Bank, down 2.26 per cent at Rs 526.60; Reliance Industries, down 2.21 per cent at Rs 1,064.40; Cipla, down 2.07 per cent at Rs 582.75; HDFC, down 1.66 per cent at Rs 1,336.50; and Asian Paints, down 1.17 per cent at Rs 1,153.50.

--IANS

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