Stock markets end flat in highly volatile trade ahead of GDP, IIP data

Benchmark stock indices Sensex and Nifty closed almost unchanged in a highly volatile trade on Friday as investors stayed on the sidelines ahead of key macroeconomic data announcements in post-market hours.

Halting its two-day rally, the 30-share BSE Sensex slipped by 13.71 points or 0.02 per cent to settle at 85,706.67. During the day, it hit a high of 85,969.89 and a low of 85,577.82, gyrating 392.07 points.

The 50-share NSE Nifty skidded 12.60 points or 0.05 per cent to 26,202.95.

The key indices had raced to record highs in intra-day trade on Thursday but ended almost flat due to profit-taking by investors in the second half of the session.

Analysts said that fresh foreign fund outflows and largely muted global market trends kept the stock markets rangebound.

Among Sensex firms, Power Grid, Eternal, Bharti Airtel, Axis Bank and Infosys were the biggest laggards.

However, Mahindra & Mahindra, Sun Pharma, Kotak Mahindra Bank and State Bank of India were among the major gainers.

In Asian markets, South Korea’s Kospi and Hong Kong’s Hang Seng index settled lower while Japan’s Nikkei 225 index and Shanghai’s SSE Composite index ended in positive territory.

Markets in Europe were trading mostly lower. US markets were closed on Thursday due to the Thanksgiving holiday.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,255.20 crore on Thursday, while Domestic Institutional Investors (DIIs) bought stocks worth Rs 3,940.87 crore, according to exchange data.

Brent crude, the global oil benchmark, went up by 0.25 per cent to USD 63.50 per barrel.

Rising for the second day on Thursday, the Sensex climbed 110.87 points or 0.13 per cent to settle at 85,720.38. During the day, it hit a record high of 86,055.86. The Nifty ended marginally higher by 10.25 points or 0.04 per cent at 26,215.55. During the day, the benchmark hit an all-time high of 26,310.45.