Markets end flat in volatile trade amid weak trends in global equities

Mumbai, May 9 (PTI) Benchmark indices ended flat on Tuesday, paring their intra-day gains, as investors resorted to profit-taking after the recent upsurge amid weak trends in global equities.

Even after trading with gains for most part of the day, the 30-share BSE Sensex failed to hold on to the momentum and skidded 2.92 points to settle at 61,761.33 due to fag-end volatility. During the day, it hit a high of 62,027.51 and a low of 61,654.94.

The NSE Nifty ended marginally up by 1.55 points or 0.01 per cent at 18,265.95.

Among the Sensex firms, ITC, State Bank of India, Bajaj Finance, NTPC, Power Grid, ICICI Bank, Kotak Mahindra Bank and UltraTech Cement were the major laggards.

IndusInd Bank, Tata Consultancy Services, Axis Bank, Mahindra & Mahindra, Tata Motors, HCL Technologies, Asian Paints, Wipro, HDFC and Maruti were among the major gainers.

In Asian markets, Seoul, Shanghai and Hong Kong ended lower, while Tokyo settled in the green.

European markets were trading in the negative territory. The US markets had ended on a mixed note on Monday.

Foreign Institutional Investors (FIIs) were net buyers on Monday as they bought equities worth Rs 2,123.76 crore, according to exchange data.

Meanwhile, global oil benchmark Brent crude dipped 0.88 per cent to USD 76.33 per barrel.

Fitch on Tuesday affirmed India’s sovereign rating at ‘BBB-‘ with a stable outlook, on robust growth and resilient external finances, but said weak public finances remain a challenge.

The BSE benchmark had rallied 709.96 points or 1.16 per cent to settle at 61,764.25 on Monday. The Nifty had climbed 195.40 points or 1.08 per cent to end at 18,264.40.