Sensex ends choppy trade on flat note

MUMBAI: Profit-booking in metals, PSBs, and select heavyweights like Bharti Airtel, Maruti Suzuki, Infosys, and HDFC Bank was countered by gains in Reliance Industries, ICICI Bank, HDFC, and HUL, resulting in a flat close on the bourses on Thursday. However, volatility ran high through the day as investors adjusted their portfolios amid F&O expiry of the August series.

By close, the S&P BSE Sensex was parked at 55,949 levels, up 5 points while the Nifty50 stood at 16,637, up 2 points. The broader markets, meanwhile, outran the frontline indices for the third consecutive day. Both, the BSE MidCap and SmallCap indices rose 0.3 per cent each.

Sectorally, the metals pack bled the most, down 1.3 per cent, followed by the PSB Index (down 0.8 per cent). On the upside, the Nifty FMCG index rose 0.58 per cent.

Index closed flat for the second consecutive day at 16637 and formed a Doji sort of candle pattern for the second consecutive session. The index has formed a strong hurdle zone around 16700 until index wont cross above said level we may see capping to northward move and we may also see a profit booking towards the 16500 zone which strong base on the downside where traders can initiate fresh long keeping stop out level below 16400 zone on a closing basis, if manage to break above 16700 we may see a quick move towards 17k mark. (IANS)

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