Sensex Ends Flat; IT & Energy Stocks Gain

Indian share markets traded on a volatile note throughout the day and ended their session on a flat note. Sectoral indices ended on a mixed note with stocks in the IT sector and energy sector witnessing buying interest while telecom stocks, metal stocks and FMCG stocks witnessed selling pressure.

At the closing bell, the BSE Sensex stood higher by 3 points and the NSE Nifty closed up by 4 points. The BSE Mid Cap index ended the day down by 0.1% and the BSE Small Cap index ended up by 0.1%.

Asian stock markets finished on a mixed note. As of the most recent closing prices, the Hang Seng was up by 0.1% and the Shanghai Composite was flat. The Nikkei 225 was down 0.6%.

The rupee is trading at 71.14 against the US$.

The rupee was weighed down against the US dollar for the second successive session as uncertainty continued related to Brexit continued to keep most market participants on the edge.

In the latest development from the results corner, Trident has reported a rise of 53.6% in its net profit at Rs 1.1 billion for the quarter under review as compared to Rs 0.7 billion for the same quarter in the previous year.

Hindustan Media Ventures has reported a 25.4% fall in its net profit at Rs 291.6 million for the quarter under review as compared to Rs 390.9 million for the same quarter in the previous year.

However, the total income of the company increased by 6% at Rs 2.5 billion for Q3FY19 as compared Rs 2.4 billion for the corresponding quarter previous year.

In the news from macroeconomic space, India's trade deficit narrowed to US$ 13.08 billion in December. This was the lowest in 10 months and was seen on the back of a fall in gold imports.

While this came in as a welcome breather, exports remained flat and further deepened concerns for Prime Minister Narendra Modi who wants to accelerate growth ahead of elections.

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Disclosure: Equitymaster Agora Research Private Limited (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. ...

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