Indian equities trade flat ahead of derivatives expiry

A day after closing at a record high, the Indian equity markets traded on a flat note on Thursday as caution prevailed ahead of the derivatives' expiry.

However, a strong rupee limited further fall of the key indices. Selling pressure was witnessed in metal and healthcare stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) inched up by 3.95 points or 0.04 per cent to 9,355.80 points.

On the other hand, the barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 30,141.39 points, traded at 30,111.46 points (at 1.30 p.m.) -- down 21.89 points or 0.07 per cent from its previous close at 30,133.35 points.

The Sensex has so far touched a high of 30,184.22 points and a low of 30,041.99 points during the intra-day trade.

The BSE market breadth was bearish -- with 1,440 declines and 1,271 advances.

According to Dhruv Desai, Director and Chief Operating Officer of Tradebulls, the equity benchmarks started off the day on a flat note tracking mixed global cues and extended the bullish run in morning trades tracking appreciation of the rupee against dollar.

"Banking sector stocks currently faced resistance at higher levels mainly due to profit booking," Desai told IANS.

"Tyre sector stocks faced profit booking at higher levels. However, shares of MRF crossed Rs 70,000 mark in intra-day session."

On Wednesday, the benchmark indices closed at new highs on the back of positive global cues, a strong rupee and optimism over the upcoming quarterly earning results.

The NSE Nifty closed the day's trade at 9,351.85 points, while the BSE Sensex closed trade at 30,133.35 points

--IANS

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