Sensex end flat, down 12 pts on weak Q3 result, global cues

14 Feb 2017

The benchmark Sensex snapped its three day winning streak, ending with marginal fall by 12.51 points amid profit-booking in frontline shares of Auto, Metal, Pharma and Realty stocks amid weak global sentiment.
The broader Nifty slipped below the key 8,800-level.
Earlier the key indices opened positive soon succumbed to tight-range momentum amid choppiness as caution crept on weak Asian cues ahead of Janet Yellen's congressional testimony which could hint further rate hikes.
Anxiety also ruled as key corporate earning results hovered the stock momentum, while rise in January WPI inflation also affected the sentiment, the key index traded with small gains and losses most of the session.
On Monday, January retail inflation (CPI) fell to multiyear lows of 3.17 per cent against 3.41 per cent in December due to low demand after demonetisation, while today the January WPI inflation rose 5.25 per cent against 3.39 in previous month also affected the sentiment.
The gains in Telecom, Teck, Energy, Utilities and Banks were offset by losses in Industrials, Auto, Metal, Realty, Consumer Durables and HealthCare sectors. While Midcap and smallcap shares also traded sluggish.
The 30-share Sensex resumed higher at 28,386.12 and hovered between 28,393.42 and 28,263.45 before closing at 28,339.31, showing a loss of 12.31 points, or 0.04 per cent over its last close.
The gauge has gained 61.70 points in the previous three sessions.
The 50-share Nifty too settled 12.75 points or 0.14 per cent lower at 8,792.30 after moving between 8,820.45 and 8,772.50.
Meanwhile, Foreign portfolio investors bought shares worth net Rs 306.74 crore yesterday, as per provisional data.
GAIL, Bharti Airtel, RIL and ONGC were the top gainers on BSE Sensex while Tata Motors, Hero MotoCorp, HUL and Maruti were the top losers.
Tata Motors were major loser in today trade, losing nearly 4 per cent after the company s Q3 net consolidated profit fell 96 per cent year-on-year to Rs 112 crore, impacted by big loss in domestic business and operational weakness in JLR.
Overseas, most Asian markets turned weak amid caution ahead of US Federal Reserve Chairwoman Janet Yellen's upcoming testimony, stock of singapore, Japan, South Korea and Hong Kong fell between 1.42 per cent to 0.03 per cent. while Sc China gained 0.03 per cent.
European stocks also trading lower in early trade with FTSE London, Dax Germany and CAC france lossing over 0.11 per cent to 0.02 per cent. (PTI)