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Sensex, Nifty turn flat; IT, Teck stocks weigh

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Dion Global

06 Jan 2017

Paring early morning gains, Indian equity benchmarks were trading in a narrow range with swinging between negative and positive territory during late morning deals on Friday on increased selling pressure mainly in IT and Teck sector stocks amid mixed cues from fellow Asian peers.

At 11:11 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 26,880.69 up by 2.45 points or by 0.01 per cent while the NSE Nifty was at 8,274.35 up by 0.55 points or 0.01 per cent.

Also, investors turned warry as corporate earnings season to kisk start next week, influenced sentiment at D-Street.

Buying momentum was witnessed mainly in the banking and public sector undertaking sector stocks.

The top gainers of the BSE Sensex pack were Tata Motors Ltd. (Rs. 500.15,+2.81%), Adani Ports & Special Economic Zone Ltd. (Rs. 281.20,+2.50%), Oil And Natural Gas Corporation Ltd. (Rs. 198.70,+2.24%), Tata Steel Ltd. (Rs. 414.00,+2.20%), Wipro Ltd. (Rs. 484.40,+1.82%), among others.

Major show spoilers were Mahindra & Mahindra Ltd. (Rs. 1213.20,-0.65%), Tata Consultancy Services Ltd. (Rs. 2378.50,0.00%), among others.

The market breadth, indicating the overall strength of the market, was positive. On BSE, out of the total 2483 shares traded, 1797 advanced while 572 shares declined and 114 remained unchanged.

On the global front, Asian markets were trading mixed with China’s Shanghai Composite and Japan’s Nikkei 225 were down nearly 0.21 per cent and 0.27 per cent respectively and Hong Kong's Hang Seng was up nearly 0.22 per cent.