AGL 40.00 Decreased By ▼ -0.01 (-0.02%)
AIRLINK 127.00 Decreased By ▼ -0.99 (-0.77%)
BOP 6.68 Increased By ▲ 0.08 (1.21%)
CNERGY 4.49 Decreased By ▼ -0.11 (-2.39%)
DCL 8.60 Increased By ▲ 0.12 (1.42%)
DFML 41.30 Decreased By ▼ -0.18 (-0.43%)
DGKC 86.71 Increased By ▲ 0.13 (0.15%)
FCCL 32.16 Increased By ▲ 0.02 (0.06%)
FFBL 64.70 Decreased By ▼ -0.72 (-1.1%)
FFL 10.29 Increased By ▲ 0.04 (0.39%)
HUBC 109.51 Decreased By ▼ -0.98 (-0.89%)
HUMNL 14.90 Increased By ▲ 0.15 (1.02%)
KEL 5.05 Decreased By ▼ -0.08 (-1.56%)
KOSM 7.40 Increased By ▲ 0.28 (3.93%)
MLCF 41.39 Decreased By ▼ -0.26 (-0.62%)
NBP 60.60 Increased By ▲ 0.51 (0.85%)
OGDC 190.00 Decreased By ▼ -4.69 (-2.41%)
PAEL 27.81 Decreased By ▼ -0.14 (-0.5%)
PIBTL 7.75 Decreased By ▼ -0.25 (-3.13%)
PPL 149.75 Decreased By ▼ -1.42 (-0.94%)
PRL 26.73 Decreased By ▼ -0.15 (-0.56%)
PTC 16.18 Increased By ▲ 0.18 (1.13%)
SEARL 86.02 Increased By ▲ 7.82 (10%)
TELE 7.72 Increased By ▲ 0.33 (4.47%)
TOMCL 35.58 Decreased By ▼ -0.09 (-0.25%)
TPLP 8.14 Increased By ▲ 0.23 (2.91%)
TREET 16.51 Increased By ▲ 0.62 (3.9%)
TRG 53.35 Increased By ▲ 0.59 (1.12%)
UNITY 26.28 Decreased By ▼ -0.27 (-1.02%)
WTL 1.26 Decreased By ▼ -0.01 (-0.79%)
BR100 9,889 Decreased By -31.1 (-0.31%)
BR30 30,611 Decreased By -140.9 (-0.46%)
KSE100 93,355 Increased By 130.9 (0.14%)
KSE30 28,931 Increased By 46 (0.16%)

Indian shares closed little changed in a volatile session on Monday, as a rise in information technology and financials offset concerns over weak earnings and foreign outflows.

The NSE Nifty 50 slipped 0.03% to 24,141.3 points, while the BSE Sensex inched up 0.01% to 79,496.15.

The indexes swung between 0.8% gains and 0.6% losses through the day.

“The fluctuations in the markets have created difficulties for market participants. The recent selling activity by foreign investors has been a cause for concern,” said Sameer Chavan, head of research at Angel One.

Investors are indecisive and they are likely to refrain from aggressive trades until the overall market trend becomes clear, two other analysts said.

Lacklustre earnings and outflows pulled the Nifty 50 down by just over 8% from the record high it hit on Sept. 27, and Indian equities have seen about $13 billion of foreign outflows in the last 30 sessions.

Indian shares log fifth week of losses in six as dull earnings drag

The more domestically focused small- and mid-caps underperformed the benchmarks, losing 1.2% and 0.9%, respectively.

Six of the 13 major sectors advanced. IT companies, which earn a significant share of their revenue from the U.S., rose 1.3% and were the top sectoral gainers.

The IT index has gained 5.4% in four sessions, helped by Republican Donald Trump’s victory in the U.S. presidential election, due to potential corporate tax cuts.

The Federal Reserve’s positive outlook on U.S. economy is also triggering buying in IT sector, analysts said.

Meanwhile, financial services gained 0.5%, led by an 7.2% jump in Power Finance Corporation, which posted a rise in quarterly profit.

Biocon rose 8.5% after the U.S. drug regulator classified the drugmaker’s unit in Bengaluru for voluntary action, implying that the facility is satisfactory.

Asian Paints fell 8.2% after reporting a profit drop.

Among sectors, metals fell 1% as top consumer China’s stimulus measures fell short of investors’ expectations, dragging base and ferrous metals.

Comments

200 characters