Mumbai, June 29 (IANS) The Indian equity markets on Thursday recouped after sixth consecutive sessions of losses to close on a flat note -- marginally in the green -- as volatility was induced on the day of June derivatives expiry.
According to market observers, positive global cues and healthy buying in metal, FMCG and capital goods stocks aided the key indices to trade on a higher note. However, gains were trimmed towards the end of the day's trade as investors booked profits.
Sentiments also remained jittery with just a day left for the launch of the country's biggest indirect tax reform -- Goods and Services Tax (GST).
The wider Nifty of the National Stock Exchange (NSE) reclaimed the 9,500-mark to close at 9,504.10 points -- higher by 12.85 points, or 0.14 per cent.
The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 30,910.97 points, closed at 30,857.52 points -- up 23.20 points, or 0.08 per cent, from its previous close at 30,834.32 points.
The Sensex touched a high of 31,097.92 points and a low of 30,794.61 points during intra-day trade.
The BSE market breadth was bullish -- with 1,625 advances and 950 declines.
The broader market indices outperformed the Sensex, with the S&P BSE mid-cap index up by 0.34 per cent and the small-cap index by 0.98 per cent.
"Markets ended with marginal gains on Thursday after a volatile session on the day of derivatives expiry. After a positive morning session, the Nifty witnessed selling pressure from a high of 9,575 to finally close with marginal gains," Deepak Jasani, Head of Retail Research, HDFC Securities, told IANS.
"The Sensex settled below the psychologically important 31,000-level after slipping below that level in afternoon trade. Major Asian markets have ended on a positive note, while European indices like CAC 40 and DAX traded lower," Jasani added.
On the currency front, the rupee weakened by 7-8 paise to 64.63 to US dollar from its previous close at 64.55-56.
In investments, provisional data with the exchanges showed that foreign institutional investors (FIIs) sold stocks worth Rs 1,140.77 crore while domestic institutional investors (DIIs) purchased scrips worth Rs 600.23 crore.
"Market turnover was higher today on account of F&O (futures and options) expiry. Realty and telecom sectors surged today and Nifty rollover, which was lagging against previous average rollovers, managed to catch up and saw decent rollovers," said Dhruv Desai, Director and Chief Operating Officer of Tradebulls.
"Metal, FMCG and capital goods ended in positive while bank, IT and auto ended in the red," he added.
Sector-wise, the S&P BSE metals index surged by 239.86 points, the FMCG index by 74.15 points and the capital goods index by 34.75 points.
On the other hand, the S&P BSE banking index fell by 20.50 points, the healthcare index by 13.08 points and the automobile index by 7.04 points.
Major Sensex gainers on Thursday were: Axis Bank, up 3.48 per cent at Rs 511.70; Tata Steel, up 2.85 per cent at Rs 534.70; Cipla, up 1.43 per cent at Rs 544.75; Bharti Airtel, up 1.39 per cent at Rs 382.60; and ITC, up 1.05 per cent at Rs 311.40.
Major Sensex losers were: Kotak Bank, down 2.63 per cent at Rs 948.30; Tata Motors (DVR), down 1.84 per cent at Rs 268.95; Tata Motors, down 1.40 per cent at Rs 435.95; State Bank of India, down 1.39 at Rs 272.55; and Sun Pharma, down 1.23 per cent at Rs 538.50.
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