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Sensex ends flat in lacklustre trade, up 21 points

The stock market snapped the three-day losing streak, while trading lacklustre to slightly gain by 21.20 points at 28,082.34, while broader Nifty also garnered 11.20 points to reclaim the key 8,700-level amid listless global cues.

twitter-logoPTI | October 10, 2016 | Updated 17:05 IST
Sensex ends flat in lacklustre trade, up 21 points

The stock market snapped the three-day losing streak, while trading lacklustre to slightly gain by 21.20 points at 28,082.34, while broader Nifty also garnered 11.20 points to reclaim the key 8,700-level amid listless global cues.

The market witnessed a smart opening investors on value-buying and shortcovering enthused by last Friday's weak US Non-farm pay Roll data signalling doubts over December hike, were found soon to be tapered on some caution ahead of key domestic IIP data to be released later in the day, also curtailed by local holidays from tomorrow due to Dussehra and Moharram on 12th.

Investors opted for wait and watch policy as the focus next shifts to the earnings season after holidays, also monthly inflation data based on consumer price index (CPI) for September is due on Thursday and wholesale price index (WPI) on Friday.

Meanwhile, good FII inflows, strong rupee amid stock specific actions propelled the market sentiment to stay positive.

The 30-share index opened smart at 28,144.28 and hovered between a high of 28,216.64 and 28,068.32 before closing at 28,082.34, a marginal gain of 21.20 points or 0.08 per cent over its previous close.

The NSE Nifty also gain slightly by 11.20 points, or 0.13 per cent, at 8,708.80.

Buying was led by Consumer Durbles, Metal, IT, Teck, HealthCare and Telecom, while secondline shares traded mute.

However, Realty, Oil&Gas, Finance, Industrials and Power counters incurred profit-booking.

Elsewhere, Most Asian market trading lower with market in Hong Kong, Japan and Taiwan were shut for public holidays.

European stocks also trading lower as shares of banks and energy companies declined.

The recovery in Sensex was supported by gains in Asian Paint, Cipla, Infosys, Lupin, GAIL Dr Reddy's, Maruti Suzuki, Power Grid, Sun Pharma, ITC Ld, TCS, M&M, HDFC Bank and Hero MotoCorop, perking up to 1.94 per cent.

From the 30-share Sensex kitty, 17 ended higher, while 13 led by NTPC, Bharti Airtel, RIL, Adani Ports, HDFC Ltd, SBI, Tata Motors, Bajaj Auto, Axis Bank and Hind Unilever ended in negative zone.

Sectorwise, BSE consumer durables gained the most, rising 1.69 per cent followed by metal (1.48 pc), IT (1.05 pc), teck (0.84 pc), healthcare (0.52 pc) and FMCG (0.03 pc).

In broader markets, the BSE small-cap rose 0.25 per cent while mid-cap ended 0.20 per cent down.

Foreign portfolio investors (FPIs) bought shares worth a net Rs 56.25 crore last Friday, showed provisional data.

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