Indian equities trade on a flat note

Mumbai, May 9 (IANS) Indian equity markets traded on a flat note -- marginally in the green -- during the mid-afternoon trade session on Tuesday, with healthy buying in capital goods, metal, and oil and gas stocks.

However, broadly negative global cues and a weak rupee capped gains.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) inched up by 12.40 points or 0.13 per cent to 9,326.45 points.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 29,977.50 points, traded at 29,959.30 points (at 12.45 p.m.) -- up 33.15 points or 0.11 per cent from the previous day's close at 29,926.15 points.

The Sensex has so far touched a high of 30,008.35 points and a low of 29,912.24 points during the day's trade.

The BSE market breadth was bullish, with 1,434 advances and 1,157 declines.

Dhruv Desai, Director and Chief Operating Officer of Tradebulls, said the equity benchmark indices started off the day on a slightly positive note tracking mixed global cues.

"However, both the indices failed to hold the opening gains tracking depreciation of the rupee against the US dollar. IT sector stocks extended previous session's gains, along with aviation sector stocks, on strong buying support," Desai told IANS.

"We expect the Indian equities to continue with range bound trading in the second half of the session as well. Firm USD/INR futures may pressurise the market sentiments."

On Monday, positive global cues and a strong rupee buoyed the benchmark indices to close on a flat-to-positive note.

The NSE Nifty rose by 28.75 points or 0.31 per cent to 9,314.05 points, while the BSE Sensex closed at 29,926.15 points -- up 67.35 points or 0.23 per cent.