Indian equities trade flat, key indices scale new highs

After opening at record high levels, the Indian equity markets traded on a flat-to-positive note during the mid-afternoon session on Wednesday on the back of broadly positive global cues and healthy buying in consumer durables and automobile stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE), after opening at a record high of 9,264.40 points, traded on a flat note at 9,253.65 points (at 1.40 p.m.) -- up 15.80 points or 0.17 per cent.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 29,996.03 points, traded at 29,932.60 points -- up 22.38 points or 0.07 per cent from the previous close at 29,910.22 points.

The Sensex touched a new 52-week high crossing the 30,000-mark during intra-day trade. It has so far touched a high of 30,007.48 points and a low of 29,817.69 points.

The BSE market breadth was bullish with 1,898 advances and 861 declines.

According to Dhruv Desai, Director and Chief Operating Officer of Tradebulls, the Nifty opened on a positive note on account of a firm global opening cues.

"Among sectors, IT sector stocks faced resistance, while banking, pharma, auto, oil-gas sector stocks traded on a sideways to positive note. Telecom, media-entertainment and power sector stocks seems to be complimenting the firmness in market at current levels," Desai added.

On Monday, the benchmark indices closed at record high levels on the back of healthy macro-economic data and inflow of foreign funds.

The NSE Nifty closed at a new high of 9,237.85 points, and the Sensex closed at a record high level at 29,910.22 points -- up 289.72 points or 0.98 per cent.

The Indian equity markets were closed on Tuesday on account of Ram Navami.

--IANS

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