Sensex trades range-bound, automobile stocks up

Mumbai, July 17 (IANS) Profit bookings coupled with stock price corrections on Friday subdued the Indian equity markets which were trading flat during the late afternoon session.

The sensitive index (Sensex) of the S&P Bombay Stock Exchange (BSE) was flat in the session. It was trading only 39 points or 0.14 percent up.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading flat. It was marginally higher by 13.60 points or 0.16 percent at 8,621.65 points.

The S&P BSE 30-scrip Sensex, which opened at 28,480.92 points, was trading at 28,484.76 points (2.45 p.m.), up 38.64 points, or 0.14 percent from its previous close of 28,446.12 points.

The Sensex touched a high of 28,576.32 points and a low of 28,417.46 points during the intra-day trade.

Analysts said the profit bookings after two consecutive days of rally have subdued the markets.

“With no positive cue on the horizon, the markets are expected to be range-bound and sideways,” Alex Mathews, head research, Geojit BNP Paribas Financial Services, told IANS.

“Markets have already factored-in the hopes of a rate cut, subdued first quarter results, and Greece and Iran deals. So for the moment there are no triggers for the markets to react to.”

During Friday’s trade, only metal and realty indices out of the 12 sector-based indices of the S&P BSE were trading in the red.

The S&P BSE automobile index soared by 116.93 points, the healthcare index jumped by 111.25 points, capital goods index by 108.85 points, IT index by 107.04 points and the consumer durables index rose by 74.48 points.

The S&P BSE metal index was lower by 28.12 points and the realty index was down 3.57 points.

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