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Erasing gains equity indices end flat; Sensex retreats from fresh benchmark (Roundup)

Friday - July 13, 2018 6:40 pm , Category : BUSINESS
 Erasing gains equity indices end flat; Sensex retreats from fresh benchmark (Roundup)
Erasing gains equity indices end flat; Sensex retreats from fresh benchmark (Roundup)
Mumbai July 13 (IANS) From the BSE Sensex hitting a new record high earlier in the day to closing on a flat-to-negative note the key Indian equity indices saw a very volatile trade on Friday.
Although the market had opened on a positive note in continuation with Thursday s bull run helping the Sensex touch a fresh all-time high of 36 740 points in the morning session still the indices could not hold on to the earlier gains.
Analysts attribute the shedding of gains on the indices to the weak macro-economic data released on Thursday -- higher retail inflation in June and fall in industrial output in May.
Index-wise the broader Nifty50 of the National Stock Exchange (NSE) closed at 11 018.90 points -- lower by 4.30 points or 0.04 per cent -- from its previous close of 11 023.20 points.
The barometer 30-scrip Sensex on the BSE which had opened at 36 635.14 points closed at 36 541.63 points -- down 6.78 points or 0.02 per cent -- from its previous close of 36 548.41 points.
As mentioned it touched a record intra-day high of 36 740.07 points and a low of 36 501.61 points.
In the broader markets the S&P BSE mid-cap fell by 0.77 per cent and the S&P BSE small-cap ended 1.36 per cent lower from its previous close. The BSE market breadth was bearish with 1 824 declines and 813 advances.
"It was a volatile day on the bourses as stocks oscillated between the positive and negative zones through the day reacting to conflicting cues in terms of positive global stocks and lacklustre macro-economic data " said Abhijeet Dey Senior Fund Manager for Equities at BNP Paribas Mutual Fund.
He added: "On the macro front data revealed that India s factory output growth slowed to a seven-month low in May while retail inflation quickened to a five-month high in June.
On the currency front the rupee appreciated by five paise to end at 68.53 per dollar against the previous close of 68.58 per greenback.
Investment-wise provisional data with exchanges showed that foreign institutional investors sold scrip worth Rs 1 104.65 crore while the domestic institutional investors bought stocks worth Rs 872 crore.
Sector-wise the S&P BSE consumer durables index gained the most by 178.22 points followed by the IT index which was up 49.21 points and the energy index rose by 32.90 points.
On the contrary the S&P BSE banking index fell by 170.58 points the capital goods index was down 157.32 points and the FMCG index ended 101.60 points lower from its previous close.
The major gainers on the Sensex were Reliance Industries up 1.34 per cent at Rs 1 096.75; Infosys up 1.12 per cent at Rs 1 309.10; Bajaj Auto up 1.03 per cent at Rs 3 134; Coal India up 0.96 per cent at Rs 267.75; and Maruti Suzuki up 0.93 per cent at Rs 9 434.30 per share.
The top losers were ONGC down 2.80 per cent at Rs 154.60; Axis Bank down 2.48 per cent at Rs 523.90; ITC down 2.29 per cent at Rs 270.40; State Bank of India down 1.96 per cent at Rs 257.60; and ICICI Bank down 1.60 per cent at Rs 268.05 per share.

--IANS rrb/ag/bg

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