Nifty crosses 9,200-mark intra-day, equities trade flat

Mumbai, March 17 (IANS) The benchmark NSE Nifty on Friday crossed the psychologically significant 9,200-level for the first time during intra-day trade even as the Indian equity markets traded on a flat note as investors turned to book profits.

The wider 51-scrip Nifty of the National Stock Exchange (NSE), which opened at 9,207.80 points, touched a new record intra-day high of 9,218.40 points.

At 12.40 p.m., it traded a tad lower by 0.50 points or 0.01 per cent at 9,153.20 points.

"The CNX Nifty currently faced resistance at higher levels due to profit booking and traded on a lower note. Recovery due to short covering in USD/INR futures prices pressurised the price movement of the Indian equity markets at higher levels," Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 29,755.74 points, traded at 29,643.17 points (at 12.40 pm.) -- up 57.32 points or 0.19 per cent from the previous close at 29,585.85 points.

The Sensex has so far touched a high of 29,824.62 points and a low of 29,627.62 points during the intra-day trade.

In contrast, the BSE market breadth was bearish -- with 1,556 declines and 1,032 advances.

FMCG stocks witnessed healthy buying while heavy selling pressure was seen in capital goods, banking and automobile stocks.

On Thursday, positive global cues, coupled with a strong rupee and fresh inflows of foreign funds, infused healthy buying sentiments and brought cheer to the equity markets.

The NSE Nifty was up 68.90 points or 0.76 per cent -- to close at 9,153.70 points. The Sensex rose by 187.74 points or 0.64 per cent to 29,585.85 points.