Stock Markets Close Flat In Highly Volatile Trade Ahead Of Macro Data

Benchmark stock indices Sensex and Nifty closed almost unchanged in a highly volatile trade on Friday as investors stayed on the sidelines ahead of key macroeconomic data announcements in post-market hours

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Benchmark stock indices Sensex and Nifty closed almost unchanged in a highly volatile trade on Friday as investors stayed on the sidelines ahead of key macroeconomic data announcements in post-market hours.

Halting its two-day rally, the 30-share BSE Sensex slipped by 13.71 points or 0.02% to settle at 85,706.67. During the day, it hit a high of 85,969.89 and a low of 85,577.82, gyrating 392.07 points.

The 50-share NSE Nifty skidded 12.60 points or 0.05 per cent to 26,202.95.

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The key indices had raced to record highs in intra-day trade on Thursday but ended almost flat due to profit-taking by investors in the second half of the session.

"Markets traded lacklustre on Friday and ended almost unchanged, taking a breather after hitting fresh record highs," Ajit Mishra, SVP, Research, Religare Broking Ltd, said.

Fresh foreign fund outflows and largely muted global market trends kept the stock markets rangebound, analysts said.

Among Sensex firms, Power Grid, Eternal, Bharti Airtel, Axis Bank and Infosys were the biggest laggards.

However, Mahindra & Mahindra, Sun Pharma, Kotak Mahindra Bank and State Bank of India were among the major gainers.

The BSE smallcap gauge dipped 0.13% and midcap index edged marginally lower by 0.04%. Among sectoral indices, oil & gas declined 0.97%, telecommunication (0.91%), energy (0.64%), power (0.57%) and utilities (0.37%).

Auto, consumer discretionary, healthcare, metal and services were among the winners.

On the weekly front, the BSE benchmark climbed 474.75 points or 0.55%, and the Nifty went up by 134.8 points or 0.51%.

Vinod Nair, Head of Research, Geojit Investments Limited, said, "Indian equities stayed resilient, even as selective profit booking emerged in the broader market after the recent upswing." Official data released in post-market hours showed that the Indian economy recorded a six-quarter high growth of 8.2% in July-September, as factories churned out more products in anticipation of a consumption boost from the GST rate cut.

The government will release IIP data on Monday, December 1.

In Asian markets, South Korea's Kospi and Hong Kong's Hang Seng index settled lower while Japan's Nikkei 225 index and Shanghai's SSE Composite index ended in positive territory.

Markets in Europe were trading mostly lower. US markets were closed on Thursday due to the Thanksgiving holiday.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹1,255.20 crore on Thursday, while Domestic Institutional Investors (DIIs) bought stocks worth ₹3,940.87 crore, according to exchange data.

Brent crude, the global oil benchmark, went up by 0.25% to USD 63.50 per barrel.

Rising for the second day on Thursday, the Sensex climbed 110.87 points or 0.13% to settle at 85,720.38. During the day, it hit a record high of 86,055.86. The Nifty ended marginally higher by 10.25 points or 0.04% at 26,215.55. During the day, the benchmark hit an all-time high of 26,310.45. 

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