Equities trade flat, supported by positive global cues


Mumbai, Mar 2 (IANS): Indian equities markets traded on a flat-to-positive note during the mid-afternoon trade session on Thursday as positive Asian indices and healthy buying witnessed in automobile, metal and capital goods stocks kept investors' sentiments buoyed.

Besides, positive domestic macro-economic data released on Wednesday supported the upward movement of the key indices.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) inched up by 8.05 points or 0.09 per cent to 8,953.85 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 29,117.38 points, traded at 29,036.72 points (at 1.30 p.m.) -- up 52.23 points or 0.18 per cent from the previous close at 28,984.49 points.

The Sensex has so far touched a high of 29,145.62 points and a low of 28,997.88 points during the intra-day trade.

In contrast, the BSE market breadth was tilted in favour of the bears -- with 1,610 declines and 1,108 advances.

According to Dhruv Desai, Director and Chief Operating Officer of Tradebulls, the CNX Nifty faced resistance at higher levels and traded with volatile sentiments due to profit booking.

"IT sector stocks traded with mixed sentiments due to profit booking, while pharma, auto, oil-gas, media-entertainment, aviation, FMCG and power sector stocks traded with sideways to bearish sentiments," Desai said.

"Cement sector stocks traded with firm sentiments on over all buying support in the sector."

On Wednesday, positive domestic macro-economic data, coupled with firm global cues and upbeat quarterly automobile sales results, lifted the benchmark indices.

The NSE Nifty rose by 66.20 points or 0.75 per cent to close at 8,945.80 points. The BSE Sensex was up by 241.17 points or 0.84 per cent at 28,984.49 points.

  

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Title: Equities trade flat, supported by positive global cues



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