Пятница, 16 Ноября, 2018


Sensex closes flat in cautious trade ahead of earnings season

Sensex closes flat in cautious trade ahead of earnings season Sensex closes flat in cautious trade ahead of earnings season
Noah Ferguson | 12 Января, 2018, 22:49

Shares closed nearly unchanged on Wednesday as optimism about an improving global economy was offset by caution ahead of the start of the domestic corporate results season next week.

The gauge had lost 244.57 points in the previous two sessions.

"Market pared early gains due to lack of domestic triggers and rising oil prices impacting the premium valuation while global macros stayed positive and is giving support". It quoted at 10,468.80 points, up by 26.60 points or 0.25 per cent. "Investors are awaiting the result season for signs of earnings upgrade", said Vinod Nair, Head of Research, Geojit Financial Services. Domestic institutional investors (DIIs) also bought equities to the tune of Rs 64.70 crore.

Shares of RIL rose 1.5% after the company said that it has commissioned a 1.5-mtpa refinery off-gas cracker unit at its Jamnagar complex.

Market heavyweight Reliance Industries was trading 0.25% higher at 918 level after worldwide brokerage house CLSA said Reliance Industries is likely to see a big cash-flow boost as projects of over $40 billion start to deliver in full swing this fiscal while capex falls.

Fertiliser stocks were in demand.

Among secondary barometers, the BSE Mid-Cap index was up 0.38%.

The US dollar extended gains against basket of currencies in early Asian trade, after upbeat US data and supportive minutes from the Federal Reserve's latest policy meeting helped it shake off recent weakness.

On the other hand, the S&P BSE auto index fell by 28.12 points, realty index by 5.68 points and FMCG index by 0.26 points.

Dr. Reddy's (-2.8%), ONGC (-0.99%), Tata Motors (-0.73%), Asian Paints (-0.44%) and Infosys (-0.42%) were the top losers in today's trade.

Sectorwise, the S&P BSE consumer durables index rose by 578.32 points, followed by metal index by 420.56 points and capital goods index by 408.55 points.

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