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Sensex closes flat amid volatility

A benchmark index for Indian equities today closed flat, having pared its intra-day losses. Trading was volatile amid negative cues from other Asian bourses.

business Updated: Jan 06, 2012 17:09 IST

A benchmark index for Indian equities closed flat on Friday, having pared its intra-day losses with a strong comeback in the last hour of trade.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 15,789.08 points, closed at 15,867.73 points, 10.65 points or 0.07% up from its previous close at 15,857.08 points.

The 50-scrip S&P CNX Nifty of the National Stock Exchange also ended lacklustre at 4,754.1 points, up 0.09% or 4.15 points from its previous close.

Broader markets also managed to make up for intra-day losses with the BSE 500 index closing flat.

The market breadth was positive with 1,435 stocks advancing, compared to 1,297 on the decline. Another 115 remained unchanged.

Prominent gainers on the 30-scrip Sensex included RIL, up 2.52% at Rs 716.90; HDFC Bank, up 2.25% at Rs 452.50; Maruti Suzuki, up 1.76% at Rs 949.15 and ITC, up 1.23 percent at Rs 202.10.

Losers included Hero MotoCorp, down 5.12% at Rs 1,735; Jaiprakash Associates, down 4.58% at Rs 53.15; Bharti Airtel, down 4.11% at Rs 330.20 and Jindal Steel, down 3 percent at Rs 466.25.

According to data available with the Securities and Exchange Board of India (SEBI), foreign institutional investors bought stocks worth $104.07 million on Friday.

Fresh concerns on the bad debt held by banks in Euro zone countries spooked traders at most of the Asian markets.

The Japanese Nikkei moved down 1.16 percent and closed at 8,390.35 points. Hong Kong's Hang Seng fell 1.17% to end at 18,593.06 points.

However, the Chinese Shanghai Composite index rose 0.7% to close at 2,163.39 points after major government institutions bought banking stocks to support the market. The index however closed 1.6% lower for the week -- its ninth straight loss making week.

European markets were ruling in the green but concerns remained on the banking problems within many of the zone's countries.

Britain's FTSE 100 was ruling 0.37% up at 5,644.95 points, while the German DAX was trading 0.6% higher at 6,132.76 points.

However, the French CAC 40 was ruling 0.87% higher at 3,172.13 points.

First Published: Jan 06, 2012 16:32 IST