Sensex Ends Flat; Automobile And FMCG Stocks Witness Selling

After opening the day at record high levels, Indian share markets erased gains to end on a flat note led by a decline in automobile and FMCG stocks.

At the closing bell, the BSE Sensex stood lower by 20 points. Meanwhile, the NSE Nifty ended down by 7 points.

In intraday trade today, the Sensex rallied over 400 points to hit a fresh record high while the Nifty rose above 15,250.

Asian Paints was among the top gainers today. M&M, on the other hand, was among the top losers today.

SGX Nifty was trading at 15,112, down by 14 points, at the time of writing.

The BSE Mid Cap index ended down by 0.2%. The BSE Small Cap index ended lower by 0.3%.

Sectoral indices ended on a mixed note with stocks in the consumer durables sector witnessing buying interest.

Automobile stocks and FMCG stocks, on the other hand, witnessed selling pressure.

Asian stock markets ended higher today after a record-setting day on Wall Street. The Nikkei ended up by 0.4% while the Shanghai Composite zoomed 2%. The Hang Seng ended up by 0.5%.

Crude oil prices hit 13-month highs, helped by rising optimism about a return in fuel demand.

US stock futures are trading flat. Nasdaq Futures are trading down by 14 points, while Dow Futures are trading down by 30 points.

The rupee is trading at 72.85 against the US$.

Gold prices for the latest contract on MCX are trading up by 0.7% at Rs 48,189 per 10 grams.

In news from the power sector, rating agency Moody's on Monday upgraded the outlook on the power sector to stable from negative, citing the fifth consecutive month of generation growth in January.

"We have changed the outlook for the power sector to stable from negative, recognizing the better prospects for the sector as a result, amid an improved macroeconomic backdrop," Moody's said in a note.

The agency also said it does not expect any further material deterioration in the cash conversion cycle for power companies from current levels, which also supports the outlook.

1 2 3
View single page >> |

Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.