Sensex closes flat; bank stocks decline

Mumbai, Feb 25 (IANS) A benchmark index of the Indian equities markets, the 30-scrip Sensitive Index (Sensex), closed Wednesday’s trade flat, as bank, healthcare and capital goods stocks declined.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) too closed the day’s trade flat. It end 5.15 points or 0.06 percent up at 8,767.25 points.

The Sensex of the S&P Bombay Stock Exchange (BSE), which opened at 29,115.32 points, closed at 29,007.99 points, up 3.33 points or 0.01 percent from the previous day’s close at 29,004.66 points.

The Sensex touched a high of 29,269.83 points and a low of 28,967.61 points in the intra-day trade.

According to analysts, the markets which opened in positive were effected by profit booking ahead of the February’s expiry and railway budget tomorrow.

“Despite positive global cues, India couldn’t sustain the sentiment as concerns over union budget outcome still persists,” said Vinod Nair, head-fundamental research, Geojit BNP Paribas Financial Services.

“Volatility might remain, given the key trigger is post expiry and tomorrow’s railway budget can possibly provide some direction. That said, broader markets would see more volatility relative to the nifty index,” Nair added.

Sector-wise, bank, healthcare, capital goods, metal and consumer durables stocks came under heavy selling pressure.

However, healthy buying was observed in information technology (IT), fast moving consumer goods (FMCG), technology, entertainment and media (TECK) and oil and gas stocks.

The S&P BSE bank index was down 164.25 points, healthcare index fell 162.13 points, capital goods index was lower by 124.24 points, metal index declined by 53 points and consumer durables index slipped 40.46 points.

The S&P BSE IT index was up 53.66 points, followed by FMCG index which was higher by 31.40 points, TECK index rose 29.79 points and oil and gas index augmented by 27.83 points.

The major Sensex gainers were: HDFC, up 2.43 percent at Rs.1,341, Infosys, up 1.75 percent at Rs.2,318.05, Wipro, up 1.71 percent at Rs.663.70, Bharti Airtel, up 1.36 percent at Rs.347.80 and ITC, up 0.93 percent at Rs.399.55.

The losers were: DrReddy’s Lab, down 2.48 percent at Rs.3,274.95; Tata Steel, down 2.30 percent at Rs.351.15; Sun Pharma, down 2.00 percent at Rs.891.35; Tata Power, down 1.83 percent at Rs.83 and Hindustan Unilever, down 1.43 percent at Rs.900.90.

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