Equity gauges end flat amid gloomy investor sentiment

Source :ANI
Author :ANI
Last Updated: Fri, Sep 11th, 2020, 16:55:48hrs
BSE

Mumbai: Equity benchmark indices closed at near-flat levels on Friday as investors remained cautious about adverse news flow of Covid-19 vaccine trials, simmering India-China geopolitical tensions and a sharp sell-off in US equities.

The BSE S&P Sensex closed 14 points or 0.04 per cent higher at 38,855 while the Nifty 50 gained by 15 points or 0.13 per cent at 11,464.

Most sectoral indices at the National Stock Exchange were flat except for Nifty IT which gained by 1.3 per cent.

Among stocks, Wipro advanced by 2.8 per cent to Rs 292.55 per share while Tech Mahindra and Tata Consultancy Services moved up by 1.8 per cent and 1.7 per cent respectively.

The others which witnessed marginal gains were State Bank of India, Hero MotoCorp, Britannia and Hindustan Lever.
On the other hand, IndusInd Bank slipped by 1.7 per cent to Rs 610 per share and HDFC Bank by 0.9 per cent. Power Grid Corporation, Bharat Petroleum Corporation, Coal India and Asian Paints too traded with a negative bias.

Meanwhile, Asian shares struggled to stem a bearish mood after US big tech firm shares fell again overnight on growing doubts about US stimulus. Investors also remained concerned over their stretched valuations.

Japan's Nikkei rose by 0.74 per cent while Hong Kong's Hang Seng ticked up by 0.78 per cent. South Korea's Kospi was virtually flat.