Indian equities trade flat, weak global cues dent sentiments

Mumbai, June 16 (IANS) The Indian equity markets traded on a flat-to-positive note during the mid-afternoon session on Friday, with healthy buying witnessed in consumer durables, FMCG and banking stocks.

According to market observers, weak global cues and heavy selling in healthcare stocks eroded investors' risk-taking appetite.

Around 1. p.m., the wider Nifty of the National Stock Exchange (NSE) inched up by 10.70 points or 0.11 per cent to 9,588.75 points.

The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,160.47 points, traded at 31,109.21 points -- up 33.48 points or 0.11 per cent from its previous close at 31,075.73 points.

The Sensex has so far touched a high of 31,182.73 points and a low of 31,059.41 during intra-day trade.

The BSE market breadth was bullish -- with 1,361 advances and 1,096 declines.

"The broader markets marginally outperformed benchmarks. Top gainers in NSE were ITC, Infratel and Auropharma, while top losers were Lupin, Dr. Reddy's Lab and Wipro," Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.

"Telecom sector traded in the positive today (Friday). The Indian rupee declined in the early trade. Ipca Lab fell more than 13 per cent today after receiving USFDA notice in units situated at SEZ (special economic zones) Indore and Piparia manufacturing," he added.

On Thursday, the benchmark indices slipped into the negative territory, a day after the US Federal Reserve hiked its benchmark rates.

The Nifty fell by 40.10 points or 0.42 per cent to close at 9,578.05 points, while the Sensex closed at 31,075.73 points -- down 80.18 points or 0.26 per cent.