Sensex ends flat amid weak global cues

MUMBAI: The key benchmarks of the domestic equity markets ended flat on Tuesday, tracking weak global cues while investors go for profit-booking at the fag-end. BSE Sensex ended the Tuesday session at 61,761.33 with a loss of 2 points while NSE Nifty lost 5 points and settled at 18,259.30 on Tuesday.

Some of the gainers were Tata Consultancy Services (TCS), Reliance Industries and Axis Bank. ITC, SBI and ICICI Bank were among the laggards on BSE during the session on Tuesday. Indices such as BSE Midcap and Smallcap also ended with low trade. The BSE Midcap index closed 7 points higher at 26,102.29 while the Smallcap index closed 104 points slower at 29,344.41.

In US markets, Dow Jones lost 55 points, Nasdaq, NYSE, S&P 500 were trading in the positive territory when the Asian markets opened on Tuesday. In Asian markets, Hong Kong’s Hang Seng went down 429 points, Japan’s Nikkei surged 292 points, China’s Shanghai lost 37 points and Thailand Set was trading in the positive territory on Tuesday.

In European markets, Amsterdam, BEL, CAC, Deutsche Borse, FTSE 100 and Madrid were trading in the negative territory on Monday. The rupee fell 24 paise to close at 82.04 per dollar. The American dollar gained against its global peers on risk aversion in global markets. The 10-year bond yield was trading at 7.043 per cent from its previous close of 7.049 per cent. Both bond yield and prices move in opposite directions.

Vinod Nair, Head of Research, Geojit Financial Services, said, “The domestic market relinquished its gains as weak global sentiments took hold. The upcoming US inflation figures have become the focal point in determining the global market trend. The US inflation rate, which is expected to remain unchanged at its March level of 5 per cent, is causing worries that the Fed (Federal Reserve) will remain stricter for a long time. However, the sustained support from FIIs (foreign institutional investors) is guarding the domestic market from a steep correction.”