Equity indices pare all gains on selling pressure

Markets: Sensex rises 136 points; Nifty gains over 45 points

Markets: Sensex rises 136 points; Nifty gains over 45 points

Fears of a global trade war following US President Donald Trump's proposal to impose tariff on import of metals, along with the turmoil in the domestic banking sector, continued to erode the risk-taking appetite of investors.

The equity markets stabilized after a turbulent start as early hours of trade began on Friday as BSE Sensex gained 136 points.

The broad-based NSE Nifty, after shuttling between 10,296.70 and 10,211.90, finally ended 15.80 points, or 0.15 per cent down at 10,226.85.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 33,465.05 points, closed at 33,307.14 points - down 44.43 points or 0.13 per cent from its previous session's close.

The S&P BSE mid-cap index edged higher by 0.56 per cent and the small-cap index by 0.50 per cent.

On Thursday, value buying by investors, along with positive global markets on the back of easing of trade war fears, propelled the key indices. However, the broader market remained with 1,530 stocks declining as against 1,197 stocks that advanced suggesting that the underlying sentiments still is cautious.

"Major Asian markets have closed on a positive note, while European indices like CAC 40 and FTSE 100 traded in the green".

Figures from the National Securities Depository (NSDL) revealed that foreign portfolio investors invested in equities worth Rs 1,384.36 crore, or $212.98 million, during March 5-9.

On the currency front, the rupee closed flat at 65.17 against the USA dollar. On BSE, Realty (1.63%), Bankex (1.43%), Energy (1.30%), Finance (1.16%), Capital Goods (1.12%) indices were the main gainers.

Metal stocks posted gains, with Nalco and Hindustan Zinc climbing 1.83% and 1.15% respectively.

The Sensex losers were: Tata Steel, down 4.66 per cent at Rs 605.60; Adani Ports, down 2.91 per cent at Rs 377.30; Axis Bank, down 2.85 per cent at Rs 505.35; Sun Pharma, down 1.67 per cent at Rs 506.80; and ICICI Bank, down 1.43 per cent at Rs 292.70.

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