Sensex ends flat ahead of IIP data, Nifty settles below 7,800; Amtek Auto soars over 50%

The BSE Sensex and NSE Nifty closed on a flat note on Friday ahead of IIP data, due later in the day. Sensex closed 12 points lower at 25,610 while Nifty closed 1.20 points up at 7,789.30.

Among the sectoral indices on the Bombay Stock Exchange (BSE), the BSE Realty index gained the most — 0.73 per cent at 1,288.86, it was followed by BSE IT index (up 0.44 per cent) and BSE FMCG index (up 0.42 per cent). On the other hand, BSE Metal index and BSE Capital Goods index declined 1.53 per cent and 0.52 per cent at 7,197.95 and 15,951.38, respectively.

In the 50-share Nifty index, BPCL, State Bank of India, Wipro, HDFC and Asian Paints gained between 1 per cent and 2 per cent. Cairn India, BHEL, Tata Steel, Tata Motors and Vedanta lost between 2.5 per cent and 4 per cent.

Gaurav Jain, director, Hem Securities, said, “Indices traded in a narrow range throughout the day as investors stay cautious as the global worries are still on. Investors prefer to unwind their positions and awaits the domestic and global key macro economic data i.e July IIP numbers and key US data which will be released later in the day. Weak rupee too spoiled the sentiment.”

Overall market breadth for the day remained negative as advances to declines ratio for Nifty stood at 21:29 for the day. Volumes for Nifty stocks stood at 1,405 lakh against volumes of 1,652 lakh logged in Thursday’s trading session.

Shares of airlines industry were in limelight after Indigo Airlines on Thursday said that its net profit surged over 300 per cent for the financial year ended March 15 helped by fall in fuel prices and higher interest income. On the back of this news, shares of Spicejet and Jet Airways surged over 5 per cent in Friday’s session in anticipation of equally good numbers for these airlines in the upcoming results season.

Amtek Auto shares soared over 53.62 per cent to Rs 46.70 on Friday on reports that the company may look to sell stakes in overseas business to pare debt.

India’s economy grew a historically modest 7 per cent last quarter but industrial output has generally been strong. It is expected to have increased 3.5 per cent in July from a year ago, according to a Reuters poll.

Asian peers, Hang Seng and Nikkei slid 0.27 per cent and 0.19 per cent at 21,507 and 18,264, respectively, while Shanghai inched up 0.07 per cent at 3,200.23.