ADVERTISEMENT

Markets end flat over growth concerns

ADVERTISEMENT
Key equity indices closed on a flat note on Thursday over concerns of global growth after the International Monetary Fund cut the global growth forecast. Caution was also seen in view of the first phase of general elections.
 
Besides, analysts said that markets were largely dull as investors were cautious ahead of the beginning of the fourth quarter results.
 
Banking sector stocks witnessed heavy selling pressure while the IT sector also declined. However, auto stocks gained. 
 
The BSE Sensex settled 21.66 points or 0.06 percent higher at 38,607.01 while the Nifty finished 12.40 points higher or 0.11 percent at 11,596.70.
 
"Market was range bound and finally settled with minor gains as investors stayed cautious at the start of the initial phase of polling and remained watchful ahead of the announcement of CPI and IIP data on Friday. Pick up in auto sales aided the sector to gain investor's attention," said Vinod Nair, Head of Research, Geojit Financial Services.
 
On the global front, Nair said economic growth remains a concern but Fed minutes reiterating the dovish view on rates will provide support to emerging markets like India.
 
TCS and Infosys both finished lower ahead of its earnings results on Friday. With the two results, fourth quarter results will begin.
 
IANS
 

(Our News Desk can be contacted at desk@netindian.in)

Did you like this story? Make a donation and help us to serve you better.
ADVERTISEMENT
 

Comments

Post new comment

The content of this field is kept private and will not be shown publicly.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Allowed HTML tags: <a> <em> <strong> <cite> <code> <ul> <ol> <li> <dl> <dt> <dd> <canvas>
  • Lines and paragraphs break automatically.

More information about formatting options

© Copyright 2012 NetIndian. All rights reserved. Republication or redistribution of NetIndian content, including by framing or similar means, is expressly prohibited without the prior written consent of NetIndian Media Corporation. Write to info[AT]netindian[DOT]in for permission to use content. Read detailed Terms of Use.