Indian benchmark indices close flat on Thursday, BSE closes below intraday high

  • Indian benchmark indices close flat on Thursday, BSE closes below intraday high

Indian benchmark indices close flat on Thursday, BSE closes below intraday high

The BSE Sensex jumped over 130 points to 31,417 while the Nifty50 index gained almost 35 points to 9,669. A mixed trend prevailed at other Asian bourses.

The broader NSE Nifty was up 0.65 percent at 9,696.35 as of 0606 GMT, while the benchmark Sensex was 0.76 percent higher at 31,519.97, after hitting a record high of 31,522.87 earlier.

Sector-wise, barring the BSE bankex which managed to end 0.16 per cent up, all others ended in the negative terrain.

Meanwhile, Gail India was the top loser in Nifty, down 1.29 per cent followed by Hindustan Unilever, Lupin, Tata Power, Wipro and ONGC.

Benchmark equity indices BSE Sensex and NSE Nifty are showing signs of recovery on the back of slew of steps by regulator Sebi to make markets more attractive for investments.

Among a host of key decisions, the Securities and Exchange Board of India has relaxed its takeover norms for restructuring listed companies with stressed assets, which is expected to bolster the efforts in fight against bad loans.

Brent crude futures slipped below $45 a barrel despite comments from Iranian oil minister Bijan Zanganeh that OPEC countries were mulling over the possibility of further oil output cuts.

Japan's Nikkei fell 0.10%.

Shares of YES Bank Ltd and Federal Bank Ltd were up more than 2 per cent, making them the top gainers on the Nifty Bank Index.

Shares of Maruti Suzuki India Ltd and Tata Motors Ltd rose more than 1 percent.

"Markets ended with marginal losses on Thursday after a volatile session".

Covering-up of short positions helped lift the indices too.

USA stocks closed mostly lower on Wednesday, but techy-heavy index Nasdaq bucked the trend to close at 6,233 with gains of 45 points.