Sensex, Nifty trade flat; Vedanta, Coal India stocks slip

The market breadth was neutral with 788 shares advancing, 800 shares declining, and 478 remaining unchanged on the NSE.

Mar 07, 2019 04:03 IST India Infoline News Service

Bombay Stock Exchange BuildingEquity benchmark indices opened in the green for the fourth consecutive session on Thursday. However, markets failed to hold gains and turned flat after selling pressure was seen in most sectors.

The Nifty Metal index was trading ~1% lower with Vedanta, SAIL, and Coal India leading the losers.

The Sensex was up 27 points to 36,663 levels, while the Nifty was marginally down 3 points to 11,050 levels. The market breadth was neutral with 788 shares advancing, 800 shares declining, and 478 remaining unchanged on the NSE.

The BSE MidCap index was trading 23 points lower at 14,843 levels, while the BSE SmallCap index was at 14,562 levels, up 5 points.

The Indian rupee strengthened to 69.98 a dollar as compared to its Wednesday's close of 70.27/$. This is the first time in two months that the rupee has gained and past the 70-mark against the US dollar.

Shares of Biocon slipped 1% on the BSE in morning trade. The pharma company said that the USFDA issued six observations in Form 483 after the pre-approval inspection of its insulin drug substance manufacturing facility in Bengaluru.

Suzlon Energy slipped 2% after 0.26cr shares changing hands on the NSE on Thursday.

HPCL, Power Grid, Infratel, and GAIL were trading higher, while Vedanta, Indiabulls HF, Coal India, and Tata Steel were trading lower on the NSE.

Volatility index India VIX was down 0.36% at 15.55.

The most active stocks were Reliance Industries, Indiabulls HF, DHFL, and Tata Elxsi on the NSE.

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