Sensex ends flat after late recovery
Experts say the market will see rangebound trade in the next three-four days ahead of expiry on next Thursday.
Mumbai: Indian equity benchmarks closed flat on Friday after recouping losses in late trade, but the week was positive as the benchmark gained 1 per cent. The 50-share NSE Nifty fell below the 5600 level to touch an intraday low of 5,593.55 following the Parliament logjam for the second consecutive session on Friday. But the recovery in late trade helped the index fall just 1.15 points to close at 5,626.60.
Meanwhile, the 30-share BSE Sensex declined 10.77 points to end at 18,506.57. Both houses the Lok Sabha and Rajya Sabha were adjourned for the second day on Friday after opposition uproar over FDI in retail and SC/ST Bill, respectively.
The Indian rupee declined 32 paise to 55.53 against the US dollar despite intervention by RBI . The RBI likely sold dollars via state-run lenders as the rupee slid to a more than two-month low below 55.50, four traders said. Also Read: Domestic politics to drive Indian rupee: HSBC
Private oil & gas producer Reliance Industries gained 0.89 per cent. The broader indices closed flat but the market breadth was in favour of declines. About 615 shares advanced while 801 shares declined on the National Stock Exchange.