India’s benchmark indices closed flat yesterday with the Sensex closing 95 points lower and Nifty settling with hardly any gains. Trade was largely range-bound for most part of the session.
Sensex closed 95 points or 0.2% lower at 38,990. Titan, Maruti, Sun Pharma and IT stocks were the prominent gainers. Axis Bank and ICICI Bank were the main laggards yesterday.
On the index, 13 stocks gained and 17 declined. Vodafone Idea gained over 27%.
Nifty closed at 11,527 points, largely unchanged from the previous close. On the index, 26 stocks gained, while 24 declined. Nifty Auto and IT were the biggest sectoral gainers, while banks fell.
“The markets traded with lacklustre volumes with no definite direction. We continue being in a range between 11,400-11,600. If we need to see higher levels, we need to cross the resistance of 11,600. That could take us to levels as high as 12,000. A break of 11,400 can take us to 11,200-11,250 levels,” said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.
Meanwhile the rupee depreciated 44 paise and closed at 73.47 (provisional) against the US dollar yesterday tracking muted domestic equities and strengthening American currency. At the interbank forex market, the rupee opened on a weak note at 73.23, lost further ground during the session and finally settled for the day at 73.47 against the greenback, registering a fall of 44 paise over its last close.
The rupee had closed at 73.03 against the US dollar on Wednesday.
During the session, the domestic unit witnessed an intra-day high of 73.23 and a low of 73.48 against the American currency.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.04% to 92.88.
Forex traders said strong dollar and muted domestic equities weighed on investor sentiment.
Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs990.57 crore on Wednesday, according to provisional exchange data.
from Gulf Times https://ift.tt/2Dv7GZ0
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