Nifty ends flat ahead of Karnataka poll results
Mumbai, May 15 NSE benchmark Nifty ended flat after a range-bound session ahead of Karnataka assembly elections results due tomorrow.
Meanwhile, most of the exit polls indicated hung assembly in Karnataka. Hence, the market participants remained cautious awaiting tomorrow’s poll results.
Market sentiment was also impacted by subdued macro environment after the government data showed wholesale inflation hitting a four-month high of 3.18 per cent in April, due to rise in prices of petrol and diesel as well as fruits and vegetables.
Retail inflation numbers came after market hours. The CPI based inflation was recorded at 4.58 per cent in April this year.
Overseas, most of the European stocks were trading lower with investors tracking developments in Italian politics after two populist parties said they had reached a deal to form a new government.
However, Asian stocks ended higher on signs the USA and China were toning down their trade war rhetoric.
Back home, the 50-share NSE Nifty closed at 10,806.60, up by 0.10 points or 0.00 per cent. The Nifty hit a high of 10,834.85 and a low of 10,744.75 during the day.
It saw an intra-day movement of about 60.10 points.
On the sectoral front, the PSU banks rose by 0.74 per cent, banks 0.23 per cent and pharma 0.19 per cent. On the other hand, auto fell by 0.87 per cent, followed by realty 0.70 per cent, media 0.44 per cent, infra 0.40 per cent, metal 0.39 per cent and IT 0.24 per cent.
Major index gainers were NTPC, Dr Reddy, SBIN, BPCL, IndusInd Bank, PowerGrid, Hero Motocorp and Asian Paints.
Losers included, Titan, Zeel, Tata Motors, M&M, InfraTel, Indiabulls Housing Finance, Yes Bank and Vedl.
The market breadth, indicating the overall health of the market remained negative. A total of 523 scrips advanced, whereas 1,283 declined, while 70 remained unchanged. Total securities that touched their price bands were 229.
Turnover in the cash segment eased to Rs 27,402.41 crore from Rs 28,628.69 crore as on last Friday.
A total of 12,983.17 lakh shares changed hands in 93,31,765 trades. The market capitalisation of listed firms on the NSE stood at Rs 1,47,90,982.64 crores.