Key Indian equity indices trade flat in afternoon session

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Mumbai, April 8 (IANS) Key Indian stock market indices were trading flat on Friday in line with weak global cues.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading 1.50 points or 0.02 percent down at 7,544.95 points.

The Sensex of the BSE, which opened at 24,665.80 points, was trading at 24,653.18 points (at 1.49 p.m.) in the afternoon session, down 32.24 points or 0.13 percent from the previous day’s close at 24,685.42 points.

The Sensex touched a high of 24,736.03 points and a low of 24,608.51 points in the trade so far.

Good buying was observed in realty, basic materials and utilities sectors, while selling pressure was seen in telecom sector.

“US markets moved sharply lower over the course of the trading day on Thursday, more than offsetting the strength seen in the previous session,” Angel Broking said in an analysis, ahead of the opening bell for Indian bourses.

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“The sell-off on Wall Street was mainly due to concerns the outlook for global growth, which came amid a jump in the value of the Japanese yen versus the US dollar,” the brokerage said, adding European stocks also slid as optimism over rising oil prices was overshadowed by concerns over global growth.

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