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Sensex, Nifty End Flat Amid Mixed Global Cues

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Sensex, Nifty End Flat Amid Mixed Global Cues
PTI - 11 September 2020

Mumbai, Sep 11: Domestic equity benchmarks Sensex and Nifty Friday ended on a flat note amid lack of fresh buying triggers and mixed global cues.

The 30-share BSE Sensex ended 14.23 points or 0.04 per cent higher at 38,854.55.

The broader NSE Nifty rose 15.20 points or 0.13 per cent to close at 11,464.45.

SBI was the top gainer in the Sensex pack, spurting 2.30 per cent, followed by TCS, Tech Mahindra, Bajaj Finance, Hindustan Unilever, Kotak Bank, Titan and Infosys.

On the other hand, IndusInd Bank, PowerGrid, Asian Paints, Bharti Airtel and HDFC Bank were among the laggards, dropping up to 1.71 per cent.

During the week, the Sensex advanced 497.37 points or 1.29 per cent, while the Nifty rose 130.60 points or 1.15 per cent.

"undecided on the direction to take, Indian benchmark indices ended flat with a slight positive bias. In spite of mixed global cues, Indian markets held out from going negative after progress was supposed to be made during the talks to defuse border tensions with China,” Vinod Nair, head (Research), Geojit Financial Services.

"The IT index again gained the most after the markets were expecting a better Q2 performance from the companies. Although benchmark indices gained around 1.2 per cent on a weekly basis, it was characterised by volatility while FIIs have also pulled out around Rs 4,500 crores this month," Nair added.

India and China have agreed on a 5-point roadmap including quick disengagement of troops and avoiding any action that could escalate tensions for resolving the four-month-long face-off in eastern Ladakh.

Meanwhile, BSE realty, IT, consumer durables, teck, metal and FMCG indices rose up to 1.31 per cent, while telecom and utilities ended in the red.

Broader BSE mid-cap and small-cap indices ended up to 0.58 per cent higher.

Meanwhile, bourses in Shanghai, Hong Kong, Tokyo and Seoul ended on a positive note, while stock exchanges in Europe were mixed in opening trade. Global markets were mixed after another round of tech shares-led selloff on Wall Street.

Further, global oil benchmark Brent crude was trading 0.35 per cent lower at US dollar 39.92 per barrel. In the forex market, the rupee depreciated 7 paise to close at 73.53 against the US dollar.

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