Equities trade flat ahead of macro-data release

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Mumbai, March 10 (IANS) Indian equity markets traded on a flat-to-positive note during the mid-afternoon trade session on Friday as healthy buying was witnessed in capital goods, consumer durables and automobile stocks.

However, caution prevailed ahead of macro-economic industrial production data — Index of Industrial Production (IIP) — slated to be released later during the day.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) rose by 15.85 points or 0.18 per cent to 8,942.85 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 29,006 points, traded at 28,980.40 points (at 1.00 p.m.) — up 51.27 points or 0.18 per cent from the previous close at 28,929.13 points.

The Sensex has so far touched a high of 29,076.63 points and a low of 28,942.52 points during the intra-day trade.

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The BSE market breadth was marginally tilted in favour of bulls — with 1,292 advances and 1,270 declines.

According to Dhruv Desai, Director and Chief Operating Officer of Tradebulls, the CNX Nifty traded with sideways sentiments due to profit booking at higher levels.

“USD/INR futures prices traded with bearish sentiments which provided support to the Indian equity market at current levels,” Desai said.

“Telecom sector stocks traded with firm sentiments due to buying support.”

On Thursday, the benchmark indices closed on a flat-to-positive note on the back of fresh inflows of foreign funds.

The NSE Nifty inched up 2.70 points or 0.03 per cent to close at 8,927 points, and the BSE Sensex was up 27.19 points or 0.09 per cent at 28,929.13 points.

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–IANS

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