Equity indices trade flat; IT, Teck stocks up

Mumbai, Nov 23 (IANS) Healthy buying in IT, capital goods and Teck stocks led key Indian equity indices to trade with marginal gains during the mid-afternoon session on Thursday.

According to market observers, broadly negative Asian markets and profit booking in banking, consumer durables and metal stocks capped the gains.

Around 12.45 p.m., the wider Nifty50 of the National Stock Exchange (NSE) traded at 10,344.25 points -- up 1.95 points or 0.02 per cent -- from its Wednesday's close.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 33,575.91 points, traded higher by 12.42 points or 0.04 per cent at 33,573.97 points.

The Sensex has so far touched a high of 33,670.19 points and a low of 33,522.07 points during intra-day trade.

The BSE market breadth was bullish -- 1,400 advances and 1,079 declines.

"Indian indices opened soft to weak post the caution given by the US Fed last night (Wednesday). Markets traded range-bound. Japanese markets were closed for trading along with US for Thanksgiving Day," Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.

On technical levels, Desai said: "Nifty is under rising trend consolidation, bringing more volatility for traders. Nifty above 10,365 will bring in new levels of 10,410 and 10,475 while selling pressure is expected under the support of 10,265."

On Thursday, the benchmark indices closed in the positive territory as positive Asian cues and higher auto stocks buoyed investor sentiments.

The NSE Nifty50 edged higher by 15.40 points or 0.15 per cent to close at 10,342.30 points, while the Sensex closed at 33,561.55 points -- up 83.20 points or 0.25 per cent.