Mumbai June 16 (IANS) The Indian equity markets slipped lower on Friday to close on a flat note as investors sentiments were subdued on continued outflow of funds and heavy selling pressure in healthcare and IT stocks.
According to market observers a revival in banking consumer durables and FMCG stocks and positive European markets kept the downside limited.
The wider Nifty of the National Stock Exchange (NSE) inched higher by 10 points or 0.10 per cent to close at 9 588.05 points.
In contrast the 30-scrip Sensitive index (Sensex) of the BSE which opened at 31 160.47 points closed at 31 056.40 points -- down 19.33 points or 0.06 per cent from its previous close at 31 075.73 points.
The Sensex touched a high of 31 182.73 points and a low of 31 017.18 during intra-day trade.
The BSE market breadth was marginally bearish -- with 1 340 declines and 1 334 bulls.
In terms of the broader markets the BSE mid-cap and small-cap indices outperformed the Sensex. The S&P BSE mid-cap index was up 0.17 per cent and the small-cap index was up 0.14 per cent.
Markets ended with marginal gains on Friday as they continued to trade in a narrow range after remaining in positive territory early in the day. Selling in select IT and pharma stocks was offset by gains in select FMCG and private bank stocks Deepak Jasani Head - Retail Research HDFC Securities told IANS.
Major Asian markets ended on a mixed note. European indices like FTSE 100 CAC 40 and DAX traded higher.
On the currency front the rupee strengthened by 10-11 paise to 64.43-44 to a US dollar from its previous close of 64.54.
In investments provisional data with the exchanges showed that foreign institutional investors (FIIs) sold stocks worth Rs 764.48 crore while domestic institutional investors (DIIs) bought scrips worth Rs 890.91 crore.
In the afternoon session markets erased the gains accumulated in the morning session. Market turnover was significantly lower after yesterday s (Thursday) weekly expiry said Dhruv Desai Director and Chief Operating Officer of Tradebulls.
Top gainers in NSE were Tatamtrdvr ACC Kotak Bank and Ultratech while Lupin Sunpharma Cipla and Wipro were top losers he added.
Sector-wise the S&P BSE healthcare index declined by 217.87 points the IT index by 83 points and the Teck (technology media and entertainment) index by 37.93 points.
On the other hand the S&P BSE banking index rose by 126.82 points the consumer durables index by 79.73 points and the FMCG index by 58.89 points.
Major Sensex gainers on Friday were: Tata Motors up 1.57 per cent at Rs 455.50; ITC up 1.46 per cent at Rs 306.30; Adani Ports up 0.67 per cent at Rs 362.65; State Bank of India up 0.63 per cent at Rs 285.85; and NTPC up 0.53 per cent at Rs 160.25.
Major Sensex losers were: Lupin down 4.40 per cent at Rs 1 131; Sun Pharma down 2.78 per cent at Rs 529.15; Wipro down 2.24 per cent at Rs 254.95; Cipla down 2.20 at Rs 537.05; and Infosys down 1.24 per cent at Rs 940.50.
--IANS
ppg/dg
Indian equities close flat on outflow of funds, healthcare stocks slip (Roundup)
