Sensex, Nifty flat end; Gain of IT actions



SBI was the best winner of the Sensex pack.

The national Sensex and Nifty stock indexes ended on a flat Friday, due to the lack of new buy triggers and mixed global signals.

The 30-stock Sensex BSE finished 14.23 points or 0.04% higher at 38,854.55.

The wider NSE Nifty rose 15.20 points or 0.13% to close at 11,464.45.

SBI was the top winner in the Sensex pack, with over 2%, followed by TCS, Tech Mahindra, HUL, Bajaj Finance, Kotak Bank and Titan.

In contrast, IndusInd Bank, PowerGrid, Bharti Airtel, Asian Paints and HDFC Bank were among the laggards.

Markets have remained cautious in the face of unfavorable news flows about COVID-19 vaccine trials, Sino-Indian geopolitical tensions and the sell-off of U.S. stocks, said Sanjeev Zarbade, vice president PCG Research, Kotak Securities.

During talks between Foreign Minister S. Jaishankar and his Chinese counterpart Wang Yi on Thursday evening, India and China agreed on a five-point roadmap including rapid troop disengagement and avoiding action which could escalate tensions to resolve the four months. long confrontation in eastern Ladakh.

Foreign portfolio investors have sold stocks worth $ 528 million in the past five trading sessions, while domestic institutional investors have sold $ 109 million worth of shares, Zarbade said.

“Although the market is not in a bubble zone, we note that global signals (US markets in correction mode) have started to turn negative and IFIs have become sellers alongside domestic mutual funds.” , he added.

The Shanghai, Hong Kong, Tokyo and Seoul stock exchanges ended on a positive note, while the European stock markets saw a mixed trend.

The world’s benchmark crude oil, Brent, was trading 0.35% at $ 39.92 per barrel.

In the forex market, the rupee depreciated 7 points to close at 73.53 against the US dollar.

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