Markets trade flat due to rising inflation data

Mumbai, July 14 (IANS) Disappointing macro-economic data and mixed global cues subdued the equity markets on Thursday.

Consequently, both the indices traded on a flat note. Healthy buying was witnessed in banking, consumer durables and capital goods sectors, whereas stocks of information technology (IT) faced selling pressure.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 27,857.80 points, traded at 27,867.27 points (at 2.25 p.m.) — up 52.09 points or 0.19 per cent from the previous close at 27,815.18 points.

It has so far touched a high of 27,907.61 points and a low of 27,763.15 points.

The BSE market breadth was tilted in favour of the bulls — with 1,533 advances and 1,016 declines.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged up to 8,539.20 points — up 19.70 points or 0.23 per cent.

On Wednesday, the benchmark indices closed flat, induced by profit-booking, lower crude oil prices and disappointing macro-economic inflation data.

The barometer index was up a mere 7.04 points or 0.03 per cent at 27,815.18 points, while the Nifty inched down by 1.55 points or 0.02 per cent to 8,519.50 points.

Initially on Thursday, the equity indices opened on a flat note, triggered by mixed global cues and lower crude oil prices.

However, disappointing macro-economic data released during the day weighed heavy on investors’ sentiments.

The official data disclosed an annual wholesale inflation to a 20-month high of 1.62 per cent for June from 0.79 per cent in May due to a rise in food prices.

Investors were also seen cautious ahead of the upcoming quarterly earnings season. IT (information technology) major Infosys is expected to be the first bluechip firm to come out with its results on July 15.



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