Markets end flat after choppy trade
The Bombay Stock Exchange benchmark Sensex today closed flat after almost touching the all-important 18,000 level during intra-day.business Updated: Apr 06, 2010 16:52 IST
The Bombay Stock Exchange benchmark Sensex today closed flat after almost touching the all-important 18,000 level during intra-day.
The 30-share barometer closed at 17,941.37 points, up by 5.69 points. In the last two sessions the Sensex had added 408 points.
Amid anticipation of handsome fourth quarter results by India Inc, the index rose to a high of 17,991.41 points, but could not sustained the momentum. Heavy-weight stocks BHEL, DLF, HDFC and ICICI Bank rose by up to 2.80 per cent.
The wide-based National Stock Exchange index Nifty slipped by 2.40 points to 5,366 points.
Realty, power, FMCG, consumer durables and banking stocks remained major supporter to the markets, while auto, IT, healthcare and oil and gas shares capped gains.
Brokers said software exporting and auto stocks tumbled after the rupee touched a 19-month high, trimming the value of sales abroad.
Infosys, the second most-heaviest on the Sensex and segment major dropped by Rs 23.40 to Rs 2,649.50. Software exporters get over 40 per cent of their revenue from the US markets.
Among the 30-index stocks, 16 posted gains and 14 ended in the negative zone.
The BSE realty sector index rose by 1.40 per cent to 3,445.62 followed by the power sector index which gained 0.72 per cent to 3,178.66. The FMCG index rose by 0.57 per cent to 2,850.33 points, consumer durables by 0.56 per cent to 4,340.07 points, the capital goods by 0.52 per cent to 14,412.23 and the banking index by 0.52 per cent to 10,968.71.
The market witnessed a resistance and the auto sector index suffered the most by 1.02 per cent to 7,738.43. The IT sector index dropped by 0.95 per cent to 5,303.41 as shares of Infosys Technologies, Tata Consultancy and Wipro fell.
As investors rushed to shift their funds to other fundamentally strong shares, the midcap index rose by 0.68 per cent to 7,013.24 points and the smallcap index by 0.52 per cent to 8,921.58 points.