Sensex, Nifty end flat as investors turned cautious ahead of CPI data

Mumbai, Feb 11 (SocialNews.XYZ) The Indian equity markets traded flat on Wednesday, breaking a streak of three consecutive gains, as investors traded with caution ahead of the CPI data.

At the closing bell, the Sensex lost 40 points, or 0.05 per cent to settle at 84,233. The Nifty surged 18 points, or 0.07 per cent, to close at 25,953.

The broader markets performed in line with benchmark indices, as Nifty Midcap 100 index added 0.03 per cent, while the NSE Smallcap 100 edged up 0.02 per cent.

Market breadth remained negative, as 2,259 stocks declined against 1,701 stocks that advanced on BSE. Nifty Next 50 surged 0.55 per cent, while Nifty Financial Services added 0.32 per cent.

All sectoral indices traded with gains except Nifty IT and private bank. Nifty IT was the top loser, down 1.76 per cent. Nifty auto surged 1.30 per cent, pharma climbed 1.01 per cent and the PSU bank added 1.03 per cent.

Rupee traded slightly weak at 90.68 per dollar, down by 0.13 paise, as range-bound movement continues amid mixed global cues. Higher crude prices, especially with increased imports from Western markets, could widen the import bill and keep pressure on the currency.

Nifty50 remains range-bound with stock-specific action dominating the tape, unless a clear directional breakout unfolds, market watchers said.

Bank Nifty closed marginally higher near 60,750, maintaining its hold above the 60,500 support base. Overall, Bank Nifty remains range-bound with a positive bias, awaiting confirmation above 60,800 for momentum expansion, analysts said.

The Nifty50 fell 3.10 per cent in January but rose 7.71 per cent over the past year. Nifty 500 remained flat in January and closed the year up 6.94 per cent, while midcap and smallcap indices were negative for the month, down about 3.53 per cent to 5.52 per cent.

Source: IANS