Friday , November 25 2016
Home / Business / Financials / Sensex in wait-and-watch mode; ends flat ahead of IIP data

Sensex in wait-and-watch mode; ends flat ahead of IIP data

SENSEX

Mumbai :Giving up over 250-point early lead at the fag-end, the benchmark BSE Sensex today ended the session marginally lower by 11.96 points at 25,610.21, while the NSE Nifty inched up by 1.21 points as the investors upheld cautious approach ahead of the factory output data.

Deficient monsoon worries, sustained capital outflows and weakening rupee also kept traders on the sidelines.

Despite today’s muted trading, both the indices managed to record their first weekly gain in five weeks.

According to Gaurav Jain, Director of Hem Securities, investors preferred to unwind their positions awaiting key macroeconomic data—Industrial Production (IIP) numbers.

Factory output numbers released today and inflation data due on Monday will guide Reserve Bank on its monetary policy.

The 30-share Sensex resumed higher at 25,793.77 and firmed up further to 25,875.96 on initial buying on the back of overnight gains in the US market.

However, it fell afterwards to 25,530.41 before ending at 25,610.21, showing a loss of 11.96 points or 0.05 per cent.

On the other hand, NSE Nifty managed to close 1.20 points or 0.02 per cent higher at 7,789.30 after shuttling between 7,864.85 and 7,759.90.

“Equity markets traded dull and closed almost unchanged in the absence of any major cues. Initially, we saw an uptick in benchmark index tracking some recovery in rupee but it fizzled out gradually as the day progressed,” said Jayant Manglik, President Retail Distribution at Religare Securities.

On a weekly basis, the BSE Sensex advanced by 408.31 points or 1.62 per cent, while the Nifty rose 134.25 points or 1.75 per cent, halting a four-week losing streak.

Among Sensex stocks, Tata Steel was the top loser by falling 3.02 per cent, followed by Vedanta 2.56 per cent.

Asian markets ended mixed as key indices like China and Taiwan moved up by 0.07 per cent to 0.45 per cent, while shares in Hong Kong, Japan and South Korea moved down by 0.19 per cent to 1.06 per cent.

European markets were lower as key indices in France, Germany and the UK fell between 0.36 per cent and 0.97 per cent.

PTI