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Equity markets trade flat, auto stocks plunge
20 May 2017, 12:56 | Conrad Doyle
Equity markets close flat; FMCG, banks stocks gain (Roundup)
The 30-share barometer fell by 222.21 points, or 0.72 per cent, to 30,436.56.
The company is selling shares between Rs 98 to 100 per share, and will become the second infrastructure investment trust to list in the country after IRB InvIT Fund had a tepid debut on Thursday. Domestic institutional investors (DIIs) bought shares worth a net Rs. 897.96 crore.
The BSE Mid-Cap index was up 0.56 percent while the Small-Cap index rose 0.89 percent. Both the indices hit a record high in early trade, driven by gains in consumer stocks after a government panel tasked to look at tax rates under the Goods and Services Tax - likely to be rolled out from July 1 - set rates on most consumption-related goods at lower than current levels. In the Eurozone, Paris CAC was up 0.78 per cent, while Frankfurt's DAX 40 rose 0.42 per cent in early deals.
China's Shanghai Composite index was quoting in red, down by 0.18 per cent.
Karur Vysya Bank advanced 1.5 percent on reporting a 58 percent increase in quarterly profit.
BSE IT is the only sectoral index that closed in green. ITC was the top Nifty gainer, up 4 per cent at Rs 289. On the other hand, Asian Paints, Infosys, Wipro, TCS and Indiabulls Housing Finance were among the laggards.
At the National Stock Exchange (NSE), the broader 51-scrip Nifty, which had closed at 9,525.75 points, was quoting at 9.464.80 points, down by 60.95 points or 0.64 per cent.
"Trading members are requested to note that futures and options contracts (F&O) for five underlying securities shall be available for trading in the equity derivatives segment with effect from May 26, 2017", the BSE said in a circular today.
However, on Friday, uncertainty over the U.S. President Donald Trump's economic agenda following his reported interference with a federal investigation forced investors to take profits on intraday gains, dealers said. The US Dow Jones Industrial Average ended 0.3% higher on Thursday.
SBI gained 1.7 percent ahead of its quarterly results due out later in the day.
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White House: Cyberattack has not affected US government
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