AGL 40.10 Increased By ▲ 0.10 (0.25%)
AIRLINK 127.31 Increased By ▲ 0.27 (0.21%)
BOP 6.59 Decreased By ▼ -0.08 (-1.2%)
CNERGY 4.48 Decreased By ▼ -0.03 (-0.67%)
DCL 8.53 Decreased By ▼ -0.02 (-0.23%)
DFML 42.00 Increased By ▲ 0.56 (1.35%)
DGKC 87.71 Increased By ▲ 0.86 (0.99%)
FCCL 32.62 Increased By ▲ 0.34 (1.05%)
FFBL 65.15 Increased By ▲ 0.35 (0.54%)
FFL 10.26 Increased By ▲ 0.01 (0.1%)
HUBC 109.75 Increased By ▲ 0.18 (0.16%)
HUMNL 14.64 Decreased By ▼ -0.04 (-0.27%)
KEL 5.12 Increased By ▲ 0.07 (1.39%)
KOSM 7.57 Increased By ▲ 0.11 (1.47%)
MLCF 41.65 Increased By ▲ 0.27 (0.65%)
NBP 59.71 Decreased By ▼ -0.70 (-1.16%)
OGDC 193.65 Increased By ▲ 3.55 (1.87%)
PAEL 28.25 Increased By ▲ 0.42 (1.51%)
PIBTL 7.78 Decreased By ▼ -0.05 (-0.64%)
PPL 151.98 Increased By ▲ 1.92 (1.28%)
PRL 26.50 Decreased By ▼ -0.38 (-1.41%)
PTC 16.20 Increased By ▲ 0.13 (0.81%)
SEARL 84.40 Decreased By ▼ -1.60 (-1.86%)
TELE 7.69 Decreased By ▼ -0.02 (-0.26%)
TOMCL 35.39 Decreased By ▼ -0.02 (-0.06%)
TPLP 8.11 Decreased By ▼ -0.01 (-0.12%)
TREET 16.00 Decreased By ▼ -0.41 (-2.5%)
TRG 52.70 Decreased By ▼ -0.59 (-1.11%)
UNITY 26.38 Increased By ▲ 0.22 (0.84%)
WTL 1.25 Decreased By ▼ -0.01 (-0.79%)
BR100 9,953 Increased By 69.4 (0.7%)
BR30 30,908 Increased By 307.7 (1.01%)
KSE100 93,785 Increased By 429.6 (0.46%)
KSE30 29,050 Increased By 119.3 (0.41%)

BENGALURU: Indian shares ended flat on Wednesday as gains in oil stocks and a jump in two-wheeler maker Hero MotoCorp on strong result offset pressure from investors booking profits.

The blue-chip NSE Nifty 50 closed flat at 22,302.50 points, while the S&P BSE Sensex shed 0.06% to 73,466.39.

High weightage financials lost 0.53%, extending losses for a fourth session, while IT shares snapped a two-session winning streak to close 0.41% lower.

The benchmark Nifty 50 is down 2.16% from record high levels, hit in intraday trade on Friday. Selling pressure by foreign investors hurts financial and IT stocks as their exposure in these sectors is comparatively higher than others.

“The relentless foreign selling could persist further, keeping the pressure on markets, while domestic investors could choose to ride out the volatility,” said Sanjeev Hota, vice president and head of research at Sharekhan.

Indian shares end lower; volatility at 15-month high

India’s volatility index closed at 17.08, firming to a 15-month high for the third straight session as uncertainty around the national elections, foreign selling, and analysts’ reactions to corporate results kept investors wary. The index had briefly eased during the session.

Votes for India’s seven-phase elections, in which Prime Minister Narendra Modi is seeking a rare third straight term, are set to be counted on June 4. Voter turnout has so far been comparatively low compared to previous years.

Hero MotoCorp gained 3.06% after beating quarterly profit estimates and was the top Nifty 50 percentage gainer.

Refiners BPCL, HPCL and Indian Oil gained between 1.75% and 3%, helped by a drop in crude oil prices on demand concerns. Fall in oil prices is positive for importers of the commodity like India.

Drugmaker Dr Reddy’s was the top percentage loser on the Nifty 50, shedding 3.22% despite beating quarterly profit estimates as analysts flagged a subdued-mid term outlook.

Home appliances-maker Voltas slipped 5.07% after it missed quarterly profit estimates.

Comments

Comments are closed.