Markets settle on flat note in muted trade

Mumbai, Jul 8 (PTI) Stock market benchmark indices Sensex and Nifty ended flat on Monday in a lacklusture trade as investors opted to book profits after the recent record rally in equities.

Weak cues from Asian markets also added to the muted trend in domestic equities.

After beginning the trade on a weak note, the 30-share BSE Sensex declined 36.22 points or 0.05 per cent to settle at 79,960.38. During the day, it went lower by 264.77 points or 0.33 per cent to 79,731.83.

The NSE Nifty dipped 3.30 points or 0.01 per cent to 24,320.55.

Among the Sensex pack, Titan, Adani Ports, Tata Steel, JSW Steel, UltraTech Cement, Asian Paints, Mahindra & Mahindra and Bajaj Finserv were the biggest laggards.

ITC, Hindustan Unilever, Nestle, HCL Technologies and Tata Motors were among the gainers.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled lower.

European markets were trading in the positive territory. US markets ended with gains on Friday.

In a volatile session on Friday, the broader NSE Nifty continued its record-breaking run and inched up 21.70 points or 0.09 per cent to close at its lifetime high of 24,323.85.

The BSE benchmark, however, dropped 53.07 points or 0.07 per cent to settle at 79,996.60.

Global oil benchmark Brent crude declined 0.97 per cent to USD 85.70 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth Rs 1,241.33 crore on Friday, according to exchange data.