Equity indices end flat, Jet Airways down over 16 pc

Equity benchmark indices ended flat on Thursday amid tepid global cues as investors remained unclear over possible outcome of a trade deal between the United States and China.

The market sentiment picked up during late hours but failed to wipe out morning losses. The BSE S & P Sensex closed 15 points lower at 39,741 while the Nifty 50 showed a gain of 8 points to settle at 11,914.

At the National Stock Exchange (NSE), most sectoral indices were in the negative zone. Nifty bank, financial service, realty and media gained some ground.

Shares of Jet Airways sunk 16.7 per cent to a record low at Rs 91.95 per share after NSE said the airline will soon no longer be traded in the derivatives market. In a bid to curb speculative trading, intraday trading in the stock will also be barred from June 28.

Yes Bank shares dropped 13.47 per cent and IndusInd Bank's by 4.62 per cent after Swiss multinational brokerage house UBS slashed their price target by 47 per cent and 18 per cent respectively, citing weak earnings going ahead.

Yes Bank closed at Rs 116.60 per share while IndusInd Bank was down at Rs 1,497.35 per share. Indian Oil Corporation and Maruti also lost by over one per cent.

However, shares of Indiabulls Housing Finance climbed 11.86 per cent in a knee-jerk reaction to the announcement that Abhay Yadav, who had filed a petition against promoter Sameer Gehlaut and the company over alleged fund misappropriation, has withdrawn his case in the Supreme Court.

Meanwhile, Asian shares fell for a second day with shares in Tokyo and Hong Kong leading declines. The selling pressure in Hong Kong came after a mass demonstration against legislation that would allow citizens to be extradited to China.

Investors said hopes that the United States and China will clinch a deal on the sidelines of a Group of 20 summit meeting in Osaka on June 28 and 29 have been fading.