Sensex, Nifty ends flat; Asian markets close positive
After witnessing a good buying interest in the previous trading session, Banking stocks are just in the opposite direction. Bank Nifty faces selling pressure and is trading at 18,546.25 down by 85 points or 0.45%. Except Kotak Mahindra Bank, all banking stocks are trading negatively. Kotak Mahindra Bank surged marginally at Rs. 771.65.
Oil & Natural Gas limited (ONGC) were a top pick on Indian exchange with an hope that government may hike kerosene prices by April 2017. Investors have hold their position in the stock as they believe it would benefit the company hence leading to an upbeat. ONGC was trading at Rs. 237 up 4.06%. It opened at Rs. 233.85 higher from its previous closing of Rs. 227.75. Total traded quantity stood at 2.89 lakh shares with turnover of around Rs. 6.83 crore.
Sensex was trading above 46 points or 0.17% at 27,854.95. While global cues were charged up, Indian markets were trading sluggish. Nifty was trading flat at 8,520.60. The 30-stock was positive with 19 advances and 11 declines; while that of 50-stock index stood negative with 23 advances, 26 declines and 2 remaining unchanged.
Asian markets soared on Wednesday early trading session as the British gets their new Prime Minister Therese May replacing David Cameron. The Chinese and Hong Kong shares show gains. The Shanghai Composite is up 0.21% while the Hang Seng is up 0.46%. The Nikkei 225 is on top by trading above 161 points.