Equity indices cede major gains to end flat

Mumbai, June 13 (IANS) Broadly negative global markets ahead of US Federal Reserve’s rate setting meet led the key domestic equity indices to provisionally close on a flat-to-positive note on Wednesday.

According to market analysts, domestic indices had risen during the afternoon trade session on the back of higher April industrial production but soon ceded their gains.

Besides, the day’s trade saw healthy buying in IT, consumer durables and banking counters, whereas heavy selling prevailed in capital goods, metal and FMCG stocks.

At 3.30 p.m., the broader Nifty50 of the National Stock Exchange (NSE) provisionally at 10,856.70 points — inching-up by 13.85 points or 0.13 per cent — from its previous close of 10,842.85 points.

The barometer 30-scrip Sensitive Index (Sensex), which had opened at 35,835.44 points, closed at 35,739.16 points (3.30 p.m.) — higher by just 46.64 points or 0.13 per cent — from its previous session’s close of 35,692.52 points.

Sensex touched a high of 35,877.41 points and a low of 35,715.96 points during the intra-day trade. The BSE market breadth was slightly tilted towards the bears with 1,381 declines against 1,296 advances.

The top gainers on the Sensex were Dr Reddy’s Lab, Tata Consultancy Services (TCS), State Bank of India (SBI), Power Grid and Infosys whereas Tata Steel, Adani Ports, Hindustan Unilever, Bharti Airtel and ONGC were the major losers.

On the NSE, Dr Reddy’s Lab, Cipla and TCS were the highest gainers while Tata Steel, Zee Entertainment and Bajaj Finance lost the most.