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Share Market Updates: Sensex Trades Flat, Nifty Still Above 12,350

In The Previous Session, Sensex Settled At 41,932.56, Up 59.83 Points, Or 0.14 Per Cent. Likewise, The Nifty Closed At 12,355.50, Showing A Gain Of 12.20 Points, Or 0.10 Per Cent.

News Nation Bureau | Edited By : Assem Sharma | Updated on: 17 Jan 2020, 04:26:58 PM
Closing Bell: Sensex trades flat, Nifty still above 12,350

Closing Bell: Sensex trades flat, Nifty still above 12,350 (Photo Credit: file photo )

New Delhi :

Market benchmarks Sensex and Nifty ended on a mixed note after a volatile session on Friday, with gains in Reliance Industries offsetting losses in other heavyweights HDFC, ICICI Bank and TCS. After hitting a record intra-day high of 42,063.93, the 30-share BSE Sensex settled 12.81 points, or 0.03 per cent, higher at 41,945.37.

The broader NSE Nifty, however, ended 3.15 points, or 0.03 per cent, down at 12,352.35. On the Sensex chart, Bharti Airtel was the top gainer, rallying 5.47 per cent, after experts said the Supreme Court’s rejection of a review of its order that put Rs 1.47 lakh crore liability of past dues on telcos, will weaken Vodafone Idea’s ability to compete in the Indian market; in turn, providing an opportunity for Bharti Airtel and Reliance Jio to gain market share. Shares of Vodafone Idea plunged 25.21 per cent.

Ahead of their quarterly earnings, Reliance Industries and HCL Tech advanced up to 2.79 per cent, while TCS fell 0.79 per cent. Heavyweight HDFC dropped 1.23 per cent. In percentage terms, IndusInd Bank, SBI, HDFC, ICICI Bank and L&T were among the top losers.

On the contrary, Bharti Airtel, Reliance, Sun Pharma, HCL Tech and Maruti Suzuki emerged as major gainers. According to traders, domestic investors are awaiting directional cues from key corporate results for cues amid concerns over higher bank non-performing assets and a spike in retail inflation.

In the previous session, Sensex settled at 41,932.56, up 59.83 points, or 0.14 per cent. Likewise, the Nifty closed at 12,355.50, showing a gain of 12.20 points, or 0.10 per cent. Meanwhile, on a net basis, foreign institutional investors sold equities worth Rs 395.24 crore, while domestic institutional investors offloaded shares worth Rs 184.65 crore on Thursday, data available with stock exchanges showed. Bourses in Shanghai, Hong Kong, Tokyo and Seoul ended higher.

European markets also started on a positive note. Brent crude oil futures rose 0.36 per cent to USD 64.86 per barrel. The rupee depreciated 11 paise to 71.04 per US dollar (intra-day).

Gold Rises By Rs 32, Silver Gains Rs 116

Gold prices rose by Rs 32 to Rs 40,590 per 10 gram in the national capital on Friday amid rupee depreciation and strong global prices. In the previous trade, the yellow metal had closed at Rs 40,558 per 10 gram. Silver prices also gained Rs 116 to Rs 47,756 per kg as compared to Thursday’s close of Rs 47,640 per kg.

“Spot gold for 24 Karat in Delhi was trading higher by Rs 32 on rupee depreciation and strong global prices. Spot rupee was trading around 14 paise weaker against the dollar during the day,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said. In early trade on Friday, the rupee opened on a cautious note and fell 7 paise to 71.00 against the US dollar.

In the international market, gold and silver were trading in the green at USD 1,555 per ounce and USD 18.02 per ounce, respectively.

(With inputs from PTI) 

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First Published : 17 Jan 2020, 03:45:46 PM