Indices end flat, Sensex slips 27 points

Indices end flat, Sensex slips 27 points

Mumbai, Feb 22: The BSE sensex ended marginally lower on Friday due to losses in banking stocks as investors turned cautious after the minutes of RBI’s latest policy meeting highlighted growth concerns. The 30-share sensex settled 26.87 points, or 0.07 per cent lower at 35,871.48. The broader NSE Nifty inched up 1.80 points, or 0.01 per cent, to 10,791.65.
Kotak Bank was the biggest loser in the sensex pack, falling 3.71 per cent, followed by RIL, HDFC Bank, Bajaj Finance, PowerGrid, IndusInd Bank, Asian Paints, HDFC and ITC.
On the other hand, Yes Bank was the top gainer, spurting 3.23 per cent.
Other winners were Vedanta, Tata Motors, NTPC, M&M, Maruti, ONGC and Hero MotorCorp, rising up to 2.86 per cent.
Sectorally, the BSE bankex and finance indices fell up to 0.43 per cent. Energy and consumer durables too ended in the red.
BSE metal, auto, realty, power and oil and gas indices gained up to 1.62 per cent.
Broader indices outperformed the benchmarks, with the BSE midcap index gaining 0.38 per cent and the small-cap gauge rising 0.77 per cent.
According to traders, despite positive global cues, investor sentiment turned weak after the Reserve Bank of India (RBI) on Thursday released the minutes of its latest monetary policy meet.
The central bank’s Monetary Policy Committee noted the “weakened growth momentum” amidst inflation cooling off as the reason for the surprise rate cut earlier this month.
In his debut policy review as RBI Governor, Shaktikanta Das argued that there was a need to look at growth concerns.
“Growth impulses have weakened and there is a need to spur private investments and strengthen private consumption, especially in the wake of slowing global growth,” Das argued and voted for a rate cut.
Meanwhile, on a net basis, domestic institutional investors (DIIs) were net buyers to the tune of Rs 202.10 crore, and foreign institutional investors (FIIs) also bought shares worth a net Rs 55.48 crore on Thursday, provisional data available with BSE showed.
Buzzing Stocks
Shares of Reliance Nippon Life Asset Management surged 20 per cent to Rs 224 in intra-day trade, rallying 44 per cent in past two trading sessions on the BSE, after Reliance Capital decided to put its stake in the company up for grabs. The stock settled at Rs 199, up 6.3 per cent on Friday.
Suzlon Energy jumped 31 per cent to end at Rs 5.80 on the BSE. In intra-day deals, the stock had touched a high of Rs 6.15, rallying 68.5 per cent in the past two trading sessions from a level of Rs 3.65 on Wednesday.
Global Markets
Shares in Asia slipped on Friday as a deteriorating global economic outlook outweighed further signs of progress in trade talks between China and the United States.
After inching higher in early trade, MSCI’s broadest index of Asia-Pacific shares outside Japan fell into the red as more markets opened across the region, dipping 0.1 per cent. Chinese blue-chip shares were down 0.1 per cent in late-morning trade after briefly breaking into positive territory. Seoul’s Kospi lost 0.3 per cent. Shares in Taiwan were also 0.3 per cent lower. Japan’s Nikkei was down 0.4 per cent.