Equity markets close flat, cede gains on profit booking

Mumbai: The Indian equity markets closed flat on Friday as investors were seen reluctant to chase prices after tension between India and Pakistan escalated.

Both the key indices provisionally closed on a flat-to-positive note, despite value buying and short covering, along with a recovering rupee. Healthy buying was witnessed in automobile, oil and gas, and banking stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged up 29.90 points or 0.35 per cent to 8,621.15 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 27,807.82 points, provisionally closed at 27,865.96 points (at 3.30 p.m.) — up by 38.43 points or 0.14 per cent from the previous close at 27,827.53 points.

The Sensex touched a high of 27,955.21 points and a low of 27,716.78 points during the intra-day trade.

The BSE market breadth was skewed in favour of the bulls — with 2,045 advances and 634 declines.

On Thursday, the key Indian equity indices took a sharp fall after the Indian Army said it had carried out surgical strikes on terror launch pads across the Line of Control (LoC) in Jammu and Kashmir, inflicting “significant casualties”.

The barometer index had ended with a loss of 465.28 points, or a 1.64 per cent, while the NSE Nifty closed lower by 153.90 points, or 1.76 per cent.

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Free Press Journal