Mumbai, July 17 (IANS) Profit bookings coupled with stock price corrections subdued the Indian equity markets, which were trading range-bound during the mid-afternoon session on Friday.
The sensitive index (Sensex) of the S&P Bombay Stock Exchange (BSE) was flat during the mid-afternoon trade session. It was trading only 34 points or 0.12 percent up.
The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading flat. It was marginally higher by 6.15 points or 0.07 percent at 8,614.20 points.
The S&P BSE 30-scrip Sensex which opened at 28,480.92 points, was trading at 28,479.95 points (1.30 p.m.), up 33.83 points, or 0.12 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 so far.
Analysts tracking the day’s trade said that 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, Greece and Iran deals. So for the moment there are no triggers for the markets to react on.”
During Friday’s trade so far, only banking index out of the 12 sector-based indices of the S&P BSE was trading in the red.
The S&P BSE healthcare index soared by 139.39 points, the capital goods index jumped by 131.28 points, consumer durables index was higher by 102.27 points, automobile index augmented by 64.89 points and the information technology (IT) index rose by 64.61 points.
The S&P BSE bank index was lower by 25.65 points.