Markets end flat amid volatile trade

Markets end flat amid volatile trade
Key benchmark indices ended in green on Thursday as the Bombay Stock Exchange (BSE)

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benchmark Sensex gained marginally 13.02 points, or 0.09 per cent, to close at 14,658.49.

While broad-based Nifty index on National Stock Exchange also added 7.95 points or, 0.18 per cent to close at 4,348.85.

Among the BSE sectoral indices, the BSE Metal index, PSU index and Realty index added 3.26 per cent, 1.95 per cent and 1.55 per cent respectively.

Overall market breadth on BSE remained strong with 1,452 advances, 1,150 declines and rest of the scrips remained neutral out of 2,692.

ONGC (7.02 per cent), Tata Steel (6.37 per cent) and Grasim Industries (4.20 per cent) were remained the major Sensex gainers.

BHEL (-3.03 per cent), Reliance Industries (-2.29 per cent) and Bharti Airtel (-2.27 per cent) were remained the top losers from the same pack.

Markets @ 12.00 PM (PTI)

The stock markets cheered the recommendations in the Economic Survey tabled in Parliament today with the Sensex rebounding by over 115 points on fresh buying in heavyweight stocks.

The Bombay Stock Exchange benchmark index, which fell by over 70 points in late morning trade, rebounded by 118.88 points to 14,764.35 points soon after the Survey was tabled in Parliament by Finance Minister Pranab Mukherjee.

Meanwhile, the wide-based National Stock Exchange index Nifty moved up by 42.75 points to 4,383.65 points.

Marketmen said trading sentiments got a boost following the Survey recommended phasing out all cesses and surcharges on taxes and securities transaction tax, fringe benefit tax and introduce a new income tax code.

The Survey also asked for rationalising the dividend distribution tax so that dividend is taxed in the hands of receiver. Surcharge at a rate of 10 per cent is levied on those earning at least Rs 10 lakh per annum and corporate income tax.

Besides, stocks of companies in oil refining business were in demand following a hike in diesel and petrol prices last evening.

Markets @ 11.15 AM (PTI)

The stock market widen its losses with the Bombay Stock Exchange benchmark Sensex falling by nearly 77 points at 1115 hrs today ahead of the presentation of the economic survey in Parliament.

The 30-share index was quoted at 14,568.65 points at 1115 hrs, a loss of 76.82 points over the previous close.

The wide-based National Stock Exchange index Nifty lost 26.75 points at 4,314.15 at the same time.

After opening on a firm note, the markets slipped into red in late morning trade on selling at higher levels.

However, oil PSU stocks attracted fairly heavy buying support on the government's decision to hike the petrol and diesel prices by about 10 per cent.

Markets @ 10.15 AM (PTI)

The Bombay Stock Exchange benchmark Sensex wiped off its early gains and fell by 16 points at 1015 hrs today ahead of the presentation of the economic survey during the day amid a hike in fuel prices and mixed trend in Asian stocks.

The 30-share index was quoted lower at 14,629.83 points at 1015 hrs, a loss of 15.64 points over its previous close. The Sensex opened higher by 95 points today.

The broader 50-share Nifty of the National Stock Exchange also fell by 11.15 points to 4,329.75 at 1015 hrs.

Oil PSU stocks attracted fairly heavy buying after the government's decision to hike petrol and diesel prices by about 10 per cent.

Marketmen said that the stock market is expected to get a direction after Finance Minister Pranab Mukherjee presents the economic survey in Parliament later in the day.

Inflation will also be released today. Among major gainers, India's largest state-run oil exploration firm ONGC was up 3.36 per cent, BPCL by 2.81 per cent, HPCL by 2.88 per cent and Indian Oil 3.50 per cent in early trade.

Foreign Institutional Investors were net buyers to the tune of Rs 185.58 crore in equity, as per the provisional data on the NSE.

Markets @ 10.00 AM (PTI)

The Bombay Stock Exchange benchmark Sensex today opened higher by 95 points on increased capital inflows by foreign funds ahead of the economic survey amid firming trends in the global markets.

The 30-share index gained 95.05 points at 14,740.52 points. Yesterday, it closed higher by 151.63 points.

The wide-based National Stock Exchange index Nifty moved up by 42.75 points to 4,383.65 points.

Marketmen said pick up in buying by foreign funds, triggered by firming trends on the Asian markets and covering-up of short positions by speculators influenced the trading sentiments.

Shares of state-run oil companies were in demand after the government raised fuel prices yesterday, which will ease subsidy burden on these firms.

Indian Oil Corporation was up by 3 per cent at Rs 557.70, Hindustan Petroleum by 2.49 per cent at Rs 319 and Bharat Petroleum by 2.89 per cent at Rs 466.80. Reliance Industries appreciated by almost one per cent to Rs 2,079.

ONGC rose by 3.22 per cent at Rs 1,086.50, Sterlite Industries by 1.37 per cent at Rs 619.60, Tata Steel by 1.27 per cent at Rs 400.

Among major Asian stock markets, Hong Kong's Hang Seng was up one per cent in morning trade.

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