Mumbai, Mar 20: The benchmark indices closed flat, after trading marginally lower for major part of the session. The markets were volatile throughout the day. The Nifty turned back above the 2800 mark in the last one hour of the trade.
Metals, ONGC, HDFC, HUL, Reliance Communication, Ambuja Cements, HDFC Bank, Idea Cellular, Wipro, Tata Power, Reliance Infrastructure and to some extent Bharti Airtel helped the markets to recover in the second half of the session.
However, the sell-off was seen in capital goods stocks, ICICI Bank, SBI, Reliance Industries, Tata Motors, Maruti, TCS, DLF and ITC.
The Sensex closed at 8,973, down 28 points while the Nifty was
up 1 points, to 2,809 (provisional figures).
Sensex near day's lows; metals, banks drag
Benchmarks were under pressure as traders booked profits in frontline stocks after a rise in stock prices and as global markets corrected
after the US Federal Reserve decided to pump in one trillion dollars to overcome recessionary concerns.
At 12:50 pm, Bombay Stock Exchange"s Sensex was at 8894.89, down 106.86 points or 1.19 per cent. The 30-share index touched an intra-day low of 8881.91 and high of 8960.35.
National Stock Exchange"s Nifty was at 2781.95, down 25.20 points or 0.90 per cent. The broader index hit a low of 2777.55 and high of 2813 in trade so far.
Amognst the sectoral indices, BSE Realty Index fell 5.51 per cent, BSE Capital Goods Index declined 2.54 per cent and BSE Bankex slipped 2.31 per cent.
BSE Metal Index was up 0.49 per cent and BSE FMCG Index was
flat. ICICI Bank (-3.98pc), Larsen & Toubro (-3.79pc), DLF
(-3.52pc), BHEL (-2.46pc) and Tata Motors (-2.39pc) were the top
Hindalco (2.44pc), Tata Power (1.06pc), ONGC (0.80pc), Sun Pharmaceuticals (0.76pc), Sterlite Industries (0.60pc) and Tata Steel (0.46pc) were t he gainers.
Sensex lacklustre; DLF, L&T down
Mumbai Indian indices were in a narrow range after a lower start on Friday, Mar 20.
Traders booked profits in frontline stocks after rise in benchmarks in previous trade. Global cues were also not supportive after the US Federal Reserve decided to pump one trillion dollars to tackle recession.
At 10:45 am, Bombay Stock Exchange"s Sensex was at 8906.93, down 94.82 points or 1.05 per cent. The index touched an intra-day low of 8902.09 and high of 8960.35.
National Stock Exchange"s Nifty was at 2784.85, down 22.30 points or 0.79 per cent. The broader index hit an intra-day low of 2782.75 and high of 2813.
BSE Midcap Index was down 0.39 per cent and BSE Smallcap Index
edged up 0.06 per cent.
DLF (-4.01pc), Larsen & Toubro (-3.89pc), ICICI Bank (-3.49pc), Bharti Airtel (-2.43pc) and Reliance Communications (-2.36pc) were the top Sensex losers.
Hindalco (3.55pc), Tata Steel (1.88pc), Sterlite Industries
(1.10pc), Tata Power (0.53pc) and ITC (0.24pc) were amongst the
Stocks open lower; rate sensitives drag
Equities opened lower on Friday, Mar 20 tracking weak cues from global shores. Rate sensitive stocks led the decline. Commodity stocks bucked the trend.
Bombay Stock Exchange"s 30-share Sensex was down 50.41 points at 8951.30. National Stock Exchange"s benchmark Nifty slipped 8.5 points to 2800.30 from Thursday"s close.
US stocks fell on Thursday on concerns that the Federal Reserve's latest efforts to stem the US recession are too costly and untested, prompting investors to book profits on bank shares after the recent sharp rally.
The Dow Jones Industrial Average fell 85.78 points, or 1.15 per cent, to 7,400.80. The Standard & Poor's 500 Index lost 10.31 points, or 1.30 per cent, to 784.04 and the Nasdaq Composite Index shed 7.74 points, or 0.52 per cent, to 1,483.48.