Mumbai, Aug 17 (IANS) A benchmark index for Indian equities closed on a lacklustre note in largely volatile trade Tuesday, even as banking stocks ended as gainers after leading players hiked lending rates.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,049.19 points, closed at 18,048.85 points, almost unchanged from its previous close at 18,050.78 points.
At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty also edged up 0.05 percent at 5,420.95 points.
Broader markets indices did moderately better, with the BSE midcap index closing 0.6 percent up and the BSE smallcap index trading 0.34 percent higher.
Banking stocks were the top gainers with leading stocks like HDFC Bank and some PSU banks rising after most banks raised lending rates incorporating key interest rate hike by the Reserve Bank of India in July.
The move is expected to improve the banks’ margins.
The market breadth was weak, with 1,449 stocks advancing, 1,513 declining and 124 remaining unchanged.
Among the gainers on the Sensex were Hindalco Industries, up 2.34 percent at Rs.168.30; HDFC Bank, up 1.86 percent at Rs.2,122.65; Reliance Communications, up 1.5 percent at Rs.165.95; and HDFC, up 1.26 percent at Rs.3,011.45.
The losing scrips included Hindustan Unilever, down 1.59 percent at Rs.265.60; Reliance Infra, down 1.12 percent at Rs.1,035; Sterlite Industries, down 0.97 percent at Rs.159.05; and ONGC, down 0.87 percent at Rs.1,258.20.
According to data available with the Securities and Exchange Board of India (SEBI), foreign institutional investors bought scrips worth $119.36 million Tuesday.
Asian bourses were trading lower with investors worried over signs of lagging economic growth.
The Japanese Nikkei ended 0.38 percent lower at 9,161.68 points while Hong Kong’s Hang Seng closed 0.12 percent up at 21,137.43 points.
The Chinese Shanghai Composite index ended 0.38 percent higher at 2,671.89 points.
European bourses were trading in the green after the EU agreed to recapitalised insurance giant Aegon and mining stocks saw buying.
At the closing bell here, the FTSE 100 was trading 0.8 percent higher at 5,318.21 points, while the German DAX was ruling 1.14 percent up at 6,179.98 points.
The French CAC 40 was trading 1.17 percent higher at 3,639.71 points.
