Sensex, Nifty End Flat As Financials, Metals Drag
A Volatile Trading Session
Indian equities witnessed pressure at higher levels, ending little changed in what turned out to be a volatile and rangebound trading session.
The S&P BSE Sensex ended 30 points lower at 50,363 while the NSE Nifty 50 index ended 20 points lower at 14,910. Both benchmark indices have now declined for three straight sessions.
Among the sectoral indices, it was the banking stocks that were the biggest laggards in today's session. The Nifty Bank declined 1% while the PSU Bank index fell 1.3%.
The Metal index too was among the top laggards, ending 0.8% lower. Defensive plays like technology and consumer names outperformed in today's session. The Nifty I.T. index ended with gains of 1.3% while the FMCG index rose 0.9% by the close of trade.
Broader markets outperformed in today's session. The Nifty Midcap index rose 0.4% while the Smallcap index ended with gains of 0.3%.
The India Volatility Index fell to its lowest in over two months, ending 4.2% lower at 20.19.
1,009 stocks on the NSE posted losses while 884 stocks reported gains.