Sensex closes flat; capital goods gain

Mumbai, Feb 24 (IANS) A benchmark index of the Indian equities markets, the 30-scrip Sensitive Index (Sensex), closed Tuesday’s trade flat — up 30 points or 0.10 percent — even as capital goods stocks surged.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) too closed the day’s trade flat. It was up 7.15 points or 0.08 percent at 8,762.10 points.

The Sensex of the S&P Bombay Stock Exchange (BSE), which opened at 29,016.55 points, closed at 28,9004.66 points, up 29.55 points or 0.10 percent from the previous day’s close at 28,975.11 points.

The Sensex had touched a high of 29,130.67 points and a low of 28,875.94 points in the intra-day trade.

“Market favoured defensives as we near expiry. The trend is likely to follow with a downward bias amidst heightened volatility in the broader markets relative to Nifty,” said Vinod Nair, head-fundamental research, Geojit BNP Paribas Financial Services.

“The union budget would be the key trigger, which will be conducted post expiry,” Nair added.

Sector-wise, metal, oil and gas and automobile stocks came under selling pressure; while healthy buying was observed in capital goods, fast moving consumer goods (FMCG) and information technology (IT) sectors.

The S&P BSE metal index plunged 115.96 points, followed by oil and gas index declined by 109.92 points and automobile index fell by 58.55 points.

However, S&P BSE capital goods index gained 189.17 points, FMCG index was up 123.37 points and IT index rose 43.88 points.

The major Sensex gainers were: Hindustan Unilever, up 3.15 percent at Rs.913.95, Larsen and Toubro (L&T), up 2.03 percent at Rs.1,720.25, BHEL, up 1.78 percent at Rs.277.70, ITC, up 1.46 percent at Rs.395.85 and Cipla, up 1.23 percent at Rs.677.

The losers were: Sesa Sterlite, down 3.49 percent at Rs.211.80; ONGC, down 2.98 percent at Rs.315.35; Tata Steel, down 2.08 percent at Rs.359.40; Tata Motors, down 1.55 percent at Rs.565.05 and Reliance Industries, down 1.10 percent at Rs.841.75.

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