Mumbai March 31 (IANS) Breaking the three-day gaining streak the key Indian equity indices closed on a flat note on Friday -- the last day of the financial year 2016-17 -- as negative global cues hampered investors sentiments.
The wider 51-scrip Nifty of the National Stock Exchange (NSE) closed flat -- unchanged at 9 173.75 points from the previous day s close.
The barometer 30-scrip sensitive index (Sensex) of the BSE closed at 29 620.50 points -- down 26.92 points or 0.09 per cent from the previous close at 29 647.42 points. It touched a high of 29 687.64 points and a low of 29 552.61 points during the intra-day trade.
Markets ended the fiscal on a flat note with the BSE Sensex closing the day 26.92 points lower while the NSE Nifty closed flat at 9 173.75. During the fiscal broad indices gained nearly 17 per cent Vijay Singhania founder and Director of brokerage firm Trade Smart Online told IANS.
In contrast the BSE market breadth was bullish -- with 1 613 advances and 1 131 declines.
The broader markets outperformed the benchmark indices. The S&P BSE mid-cap index closed higher by 0.79 per cent and the small-cap index edged higher by 0.72 per cent.
Markets ended flat on Friday after three sessions of gains amid volatility and subdued global cues. Mid-cap and small-cap indices outperformed the Sensex and the Nifty Deepak Jasani Head - Retail Research HDFC Securities told IANS.
Major Asian markets ended on a negative note barring the Shanghai and Straits indices. European indices like FTSE 100 DAX and CAC 40 traded lower.
Commenting on the currency front Singhania asserted: Rupee is expected to end March 2017 as the best first quarter since 1975 as foreign investors pumped in $12 billion.
The Indian rupee strengthened by seven paise to 64.85 against a US dollar from its previous close of 64.92 to a greenback.
The day witnessed substantial buying activities by the domestic institutional investors (DIIs) who pumped in funds worth Rs 1 499.41 crore provisional data with exchanges showed.
However the foreign institutional investors (FIIs) turned net sellers of scrip worth Rs 295.92 crore during the intra-day trade.
IT sector stocks faced resistance at higher levels due to profit booking and witnessed volatile trades while energy metal and media remained top performing sectors on the positive side said Dhruv Desai Director and Chief Operating Officer of Tradebulls on sector-specific movement.
On the daily scale Nifty registered yet another narrow ranged body though slightly on the bullish side. Hence only a breach below its previous days swing low near 9 100 could distort the ongoing bullish momentum Desai explained on technical levels.
Sector-wise the S&P BSE banking index plunged by 180.25 points followed by the FMCG index which slipped by 33.88 points and the IT index which fell by 32.04 points.
On the other hand the oil and gas index surged by 246 points the capital goods index edged up by 160.15 points and the consumer durables index rose by 158.92 points.
Major Sensex gainers on Friday were: Reliance Industries up 3.93 per cent at Rs 1 319.20; NTPC up 1.59 per cent at Rs 165.95; Larsen and Toubro (L&T) up 1.28 per cent at Rs 1 577.60; Maruti Suzuki up 1.18 per cent at Rs 6 024.30; and Tata Steel up 0.94 per cent at Rs 482.65.
Major Sensex losers were: Axis Bank down 1.65 per cent at Rs 490.80; ICICI Bank down 1.53 per cent at Rs 277.10; HDFC Bank down 1.47 per cent at Rs 1 442.30; HDFC down 1.22 per cent at Rs 1 502.40; and Hindustan Unilever down 1.03 per cent at Rs 909.75.
--IANS
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Indian equities close flat, global cues hamper sentiments (Roundup)
