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NEW DELHI: The benchmark equity indices BSE Sensex and NSE Nifty closed in the green on Friday boosted by fag-end buying in IT and pharma counters.
The 30-share BSE Sensex closed 22.32 points, or 0.06 per cent, up at 35,622.14, while the 50-share Nifty index settled 9.65 points, or 0.09 per cent, up at 10,817.70.
Tata Consultancy Services rallied nearly 3 per cent after the board approved to buy back 7,61,90,476 equity shares of Re 1 face value at Rs 2,100 per share for about Rs 16,000 crore.
Another IT major Infosys closed 3.37 per cent up at Rs 1,280.45.
Pharma majors Sun Pharma and Dr Reddy’s Laboratories settled 3.65 per cent and 2.04 per cent up at Rs 2,351.10 and Rs 571.05, respectively.
However, as many as 20 stocks in the Sensex pack closed in the red.
YES Bank, State Bank of India, ONGC and Coal India plunged up to 1.91 per cent.
“In yet another volatile trading session, Indian equities ended on the flat note.
Throughout the day, market remained rangebound and the Nifty index swung both ways touching intra-day high of 10,834 in first half and intra-day low of 10,755 in second half and finally ended flat at 10,818 levels.
Barring Healthcare and IT, which closed nearly 2% higher, selling pressure was witnessed among all the other sectoral indices.
Capital Goods, Metals, Oil Gas and Power remained the top losers.
Amongst the global indices, both European and Asian markets traded on a mixed note,” said Jayant Manglik, President at Religare Broking.
Domestic institutional investors bought shares worth Rs 576.19 crore, while foreign portfolio investors (FPIs) sold equities worth Rs 1,372.84 crore on Thursday, as per provisional data.
For upcoming trading sessions Manglik said, “We continue to remain cautious on the markets in the coming sessions.
With lack of any fresh positive domestic triggers in the near term, volatility is likely to remain high with stock specific movement.
Market participants will closely monitor global developments, especially in US, Europe and China.
Any further correction should be considered as a good buying opportunity for investors in quality counters.”
Asian peers settled mixed after Wall Street largely finished with gains following the European Central Bank's announcement to phase out its bond-buying stimulus.
European markets were trading mostly in green in early deals on Friday, as investors paused for breath after a stellar rally in the previous session fuelled by the European Central Bank (ECB).
