Mumbai Sep 8 (IANS) Key Indian equity indices -- the NSE Nifty50 and the BSE Sensex -- traded on a flat-to-positive note during the mid-afternon trade session on Friday buoyed by good buying activities in capital goods and metal stocks.
According to market observers heavy selling pressure in index heavyweights like Dr. Reddy s Lab Mahindra and Mahondra ONGC and Sun Pharma among others capped gains.
At 12.45 p.m. the wider 51-scrip Nifty50 of the National Stock Exchange (NSE) was up 14.15 points or 0.14 per cent to trade at 9 944.05 points.
The 30-scrip Sensitive Index (Sensex) of the BSE which opened at 31 694.15 points traded at 31 701.10 points -- up 38.36 points or 0.12 per cent from its previous close at 31 662.74 points.
The Sensex has so far touched a high of 31 763.70 points and a low of 31 642.79 points during intra-day trade.
However the BSE market breadth was bearish -- with 1 237 declines and 1 181 advances.
"Benchmark indices were trading marginally higher in the morning deals tracking Asian peers in absence of any major cues. The sentiment was affected after European Central Bank Chief Mario Draghi maintained asset purchases at 60 billion euros ($72 billion) a month until December and reiterated their pledge to increase the size or duration if the economy worsens " Dhruv Desai Director and Chief Operating Officer of Tradebulls told IANS.
"Major gainers that lifted the key indices included L&T Tata Steel Coal India Cipla HDFC Bank ITC Hindustan Unilever HDFC Hero MotoCorp ONGC Lupin TCS and Reliance Industries rising up to 1.28 per cent " he added.
On Thursday the benchmark indices closed on a flat note. The Nifty50 was up 13.70 points or 0.14 per cent to close at 9 929.90 points while the Sensex closed at 31 662.74 points -- fractionally up 0.77 points.
--IANS
ppg/vm
