Indian equity markets trade flat

Mumbai, July 13 (IANS) Disappointing macro economic data led the Indian equity markets to trade flat on Wednesday.

The key indices traded marginally in the red during the mid-afternoon session, as stocks of automobile, consumer durables and capital goods witnessed heavy selling pressure.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 27,912.14 points, traded at 27,787.78 points (at 1.00 p.m.) — down 20.36 points or 0.07 per cent from the previous close at 27,808.14 points.

The Sensex has so far touched a high of 27,928.76 points and a low of 27,752.14 points during the intra-day trade.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged down by 13.30 points or 0.16 per cent to 8,507.75 points.

The BSE market breadth was tilted in favour of the bears — with 1,671 declines and 878 advances.

Both indices ended in the positive territory during the previous trade session on Tuesday to reach their new 11-months closing high levels.

The barometer index edged up by 181.45 points or 0.66 per cent, while the Nifty gained by 53.15 points or 0.63 per cent.

Initially on Wednesday, the benchmark indices opened on a firm note, in sync with their Asian peers.

However, recent macro-economic data which showed that the country’s annual retail inflation rose marginally to 5.77 per cent in May depressed the equity markets. The factory output rose marginally by 1.2 per cent in June against a fall of 1.3 per cent in the month before, official data showed on Tuesday.

–IANS

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