Indian equity markets trade flat during afternoon session

Indian equity markets trade flat during afternoon session 

Mumbai, July 20 (IANS) Indian equity markets were trading flat on Wednesday afternoon, led by negative global cues and profit booking, coupled with apprehensions over quarterly results.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged up by 21.15 points or 0.25 per cent to 8,549.70 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 27,775.70 points, traded at 27,855.70 points (at 1.45 p.m.) — up 68.08 points or 0.25 per cent from the previous close at 27,787.62 points.

It touched a high of 27,910.63 points and a low of 27,759.71 points so far during the intra-day trade.

The BSE market breadth was tilted in favour of the bulls — with 1,512 advances and 977 declines. Healthy buying was witnessed in healthcare and oil and gas stocks.

On Tuesday, the benchmark indices closed on a flat-to-positive note, even as profit booking, disappointing quarterly results and negative global cues kept the equity markets subdued throughout the day’s trade.

The barometer index was up 40.96 points or 0.15 per cent, while the Nifty inched up by 19.85 points, or 0.23 per cent.

Initially on Wednesday, the benchmark indices opened on a flat note, in sync with their Asian peers.

The markets showed some positive momentum on the back of the government’s decision to infuse capital into public sector banks. In a statement, the Ministry of Finance announced a capital infusion of Rs 22,915 crore towards the recapitalisation of 13 public sector banks during 2016-17.

However, some caution prevailed in the markets ahead of further announcements of quarterly results.

In addition, reduced chances of further monetary policy easing by the European Central Bank (ECB) in its upcoming monetary policy review and weak global crude oil prices also dampened investors’ sentiments.

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