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Sensex, Nifty close flat after market erases gains

The market sentiment was boosted initially after data showed that domestic institutional investors made substantial purchases of Indian stocks on Tuesday.

twitter-logo PTI   New Delhi     Last Updated: December 28, 2016  | 17:06 IST
Sensex, Nifty close flat after market erases gains

Market washed out earlier gains as S&P BSE benchmark Sensex and NSE 50-share Nifty ended steady at 26,210.68 and 8,034.85 due to fag-end selling pressure from operators ahead of the expiry of futures and options December contract on Thursday, amid mixed trend in global market.

The market sentiment was boosted initially after data showed that domestic institutional investors made substantial purchases of Indian stocks on Tuesday.

Domestic institutional investors (DIIs) bought shares worth a net Rs 1502.41 crore on Tuesday as per provisional data while foreign portfolio investors (FPIs) sold shares worth a net Rs 712.17 crore Tuesday.

The Sensex resumed higher at 26,243.19 and shot up further to 26,415.05 on initial buying. However, it fell afterwards to 26,191.72 before ending at 26,210.68, showing a marginally loss of 2.76 points or 0.01 pct.

However, the NSE 50-share Nifty inched up by 2 points or 0.02 pct to 8,034.85 after moving in a range of 8,100.55 and 8,028.40.

Overseas, European and Asian stocks were trading on a mixed note. Among economic data in Asia, Japanese industrial production rose 1.5 pct in November on a seasonally adjusted basis. Key Asian indices like Japan, China and South Korea ended lower by 0.01 pct to 0.87 pct while Hongkong, Singapore and Taiwan firmed up by 0.43 pct to 1.01 pct.

Key European indices such as France and Germany moved down by 0.06 percent to 0.09 percent while UK's FTSE was quoted up by 0.36 percent.

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