Sensex Ends Flat; Bharti Infratel Surges 6%, Hindalco Advances 4%

Sensex Ends Flat; Bharti Infratel Surges 6%, Hindalco Advances 4%

Indian equity market ended with minor losses on Friday after falling as much as 0.4 per cent during the day. The Sensex closed 7.34 points lower at 28,832.45 while the NSE benchmark Nifty ended 2.2 points lower at 8,897.55 as losses in banking and FMCG shares were offset by gains in energy and metal shares.

The fall in Indian stocks was in line with their Asian peers as expectations of a U.S. interest rate hike weighed on sentiment.

“The decline in the indexes is not surprising. It was expected that some profit-booking would take place and that is what we’re seeing now,” said Gaurang Shah, vice president, Geojit Financial Services.

“Some caution can also be expected ahead of the state election results,” he said. Results of five state elections, including the key state of Uttar Pradesh, are expected at the end of next week.

Bharti Infratel was the top gainer in Nifty rising over 6 per cent followed by Hindalco Industries, which advanced nearly 5 per cent in trade today. Gail India, Grasim Industries, RIL were the other major gainers in Nifty rising between 1.7-3.6 per cent.

Sector wise, NSE’s energy sub-index was the top gainer rising 1.19 per cent followed by pharma, metal and IT.

Meanwhile, Bosch was the top loser in Nifty, down 2.2 per cent followed by HDFC, Ambuja Cements, Asian Paints and Eicher Motors.

The midcap and smallcap shares however ended higher. The BSE Midcap and Smallcap indices advanced 0.23 and 0.34 per cent respectively.