Caution ahead of derivatives expiry subdues equity markets

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Mumbai, March 31 (IANS) Caution ahead of derivatives expiry, coupled with profit booking and weak crude oil prices, subdued the Indian equity markets on Thursday.

The key equity indices had briefly slipped into the red during the late trade session. But later they recovered to close marginally in the green, on the back of strong foreign funds inflow and heightened chances of a rate cut by the Reserve Bank of India, the country’s apex bank.

Consequently, both the key indices of the Indian equity markets provisionally closed the day’s trade flat.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) ended the day’s trade marginally in the green. It inched up by 3.20 points or 0.04 percent, at 7,738.40 points.

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The barometer 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 25,364.75 points, provisionally closed at 25,341.86 points (at 3.30 p.m.) — up a mere 3.28 points or 0.01 percent from the previous day’s close at 25,338.58 points.

During the intra-day trade, the Sensex touched a high of 25,479.62 points and a low of 25,223.22 points.

The BSE market breadth was marginally titled in favour of bulls – with 1,311 advances and 1,240 declines.

The barometer index had gained 438 points or 1.76 percent on Wednesday.

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