Sensex, Nifty end flat; Axis Bank, ICICI Bank top losers

Sensex, Nifty end flat; Axis Bank, ICICI Bank top losers

According to market observers, heavy selling pressure in the banking, healthcare and consumer durables stocks, along with profit bookings eroded investors' risk-taking appetite.

Similarly, the wider 50-scrip Nifty of the National Stock Exchange (NSE) closed on a negative note.

At the same time, the net NPA also inched up to 3.12 per cent as against 2.02 per cent in the same quarter of the previous fiscal. The 30-share BSE index snapped a three-day rally to end down by 24.48 points or 0.08 percent at 32,609.16.

A total of 65 stocks registered a fresh 52-week high in trade today, while 22 stocks touched a new 52-week low on the NSE. "A bounce from the lows of the day helped to curb the losses", Deepak Jasani, Head - Retail Research, HDFC Securities, told IANS.

The trend remained mixed in global markets. Further upsides are likely once the immediate resistance of 10,236 points is taken out. It broke its previous record close of 10,230.85 hit Monday.

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Following the dent in the asset quality of Axis Bank, shares of ICICI Bank and State Bank of India fell 2.32% to Rs 267.55 and 1.73% to Rs 246.8 respectively. Domestic institutional investors (DIIs) bought shares worth a net Rs 809.03 crore.

Sector-wise, the S&P BSE oil and gas index surged by 195.76 points, followed by energy index by 102.65 points and utilities index by 28.05 points.

Other gainers that supported the key indices were Asian Paints, Bajaj Auto, Hero MotoCorp, M&M, HUL, TCS, L&T, NTPC and Maruti Suzuki, gaining by up to 2.06 per cent.

Sensex and Nifty edged lower after a four-day gaining streak as pessimism increased amid the market participants following a lower-than-expected second-quarter earnings led by the third-largest private sector bank Axis Bank. In the pre-opening session, Sensex slipped over 100 points while Nifty continued to hover above 10,250.

The top gainers on the BSE were Reliance (up 1.78 per cent), ONGC (1.61 per cent), Kotak Mahindra Bank (up 1.33 per cent), Wipro (1.24 per cent) and PowerGrid (1.12 per cent).

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