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Nifty ends flat, fails to hold 8,250 levels

Axis Bank, Kotak Bank, Tata Power, and HUL among top index gainers.

By: PTI | Mumbai |
June 3, 2016 10:24:50 am
Sensex, Sensex BSE, bombay stock exchange, Sensex today, Today Sensex, Today Markets, Markets today, Markets, Asia markets, India markets, BSE, NSE, Nifty, Business news, Stock price today, Stock prices, Markets live, Market news, FMCG, Japan, China, Hang Seng, Nikkei, Shanghai, Shanghai Composite Index, Dow Jones, business news, india news, The benchmark Nifty ended almost flat at a mix trading session on Friday.

The benchmark Nifty ended almost flat at a mix trading session, ending the day with negligible gain of 2 points to close at 8,221 levels, despite positive global cues.

Private Bank, Energy, Auto and Financial Services sectors did well, while PSU banking, Realty, Infra, Pharma and Media stocks continued to put pressure.

Meanwhile, in overseas stock markets, European stocks traded higher as investors turned their attention to a key US jobs report that could hold the key to a Federal Reserve interest rate hike this month.

The Britain FTSE, German DAX and French CAC were up 0.5 to 1 per cent. Asian markets ended mostly higher with Nikkei rising 0.5 per cent despite strong yen.

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Back home, considering mix cues from global equity market, Nifty opened on a positive note with a gap up opening of 46 points at 8,246 levels later posting a day high at 8,262 on profit booking during first hour of trade.

A level of 8,240 continued to act as strong resistance but failed to break the level, Nifty was dragged down to lower levels and pessimism prevailed till the closing with marginal gains.

The 50-share index resumed higher at 8,246.20 and moved in a range of 8,262.00 and 8,209.85 before ending at 8,220.80, showing a marginal gain of 1.85 points or 0.02 per cent.

On the sectoral front, Private Banks rose by (1.16 per cent), Bank Nifty (0.64 per cent), Energy (0.54 per cent) Finance Service (0.45 per cent) and Auto (0.41 per cent)

However, PSU Bank declined by (1.96 per cent), Realty (1.25 per cent), Infra (0.99 per cent), Pharma (0.86 per cent) and Media (0.49 per cent).

Among the index gainers were, Axis Bank (3.49 per cent), Kotak Bank (3.08 per cent), Tata Power (2.28 per cent), HUL (1.92 per cent) NTPC (1.83 per cent) TataMtrDvr (1.64 per cent) and M&M (1.48 per cent).

Index laggards included Idea that dropped by (11.05 per cent) followed by Bharti Airtel (2.20 per cent), SBI (1.97 per cent), Lupin (1.71 per cent), Bhel (1.71 per cent) and HeroMotoco (1.37 per cent).

A total of 891 shares declined, 670 advanced, while 70 ruled stable.

Turnover in cash segment fell to Rs 20,319.03 crore from Rs 16,481.63 crore yesterday. A total of 10,933.43 lakh shares changed hands in 76,82,828 trades.

The market capitalisation of NSE stood at Rs 98,06,395.90 crore.

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