Indian shares ended Friday’s extremely choppy session on a flat note, tracking mixed global cues.
Markets ended off their day’s lows as the dollar rally paused, oil extended overnight losses and benchmark Treasury yields slid below 1.5 percent to reach levels seen going into the Fed meeting earlier in the week.
The benchmark 30-share BSE Sensex fell over 700 points in intraday trade before recouping all losses to end the session up 21.12 points, or 0.04 percent at 52,344.45.
Likewise, the broader NSE Nifty index hit the 15,450 levels before settling at 15,683.35, down 8.05 points, or 0.05 percent, from its previous close.
The rupee rose by 22 paise to close at 73.86 against the greenback, snapping its eight-session long losing streak.
ONGC tumbled 3.5 percent as oil slipped below $71 a barrel on demand worries and amid renewed concerns over the return of Iranian barrels.
Metal stocks lost ground, with JSW Steel and Coal India falling more than 3 percent after China unveiled plans to sell metal reserves to check recent price hikes.
Adani Ports’ shares rebounded from recent string of losses, with the stock ending 7.2 percent higher. Adani Enterprises surged 9.3 percent.
Grasim Industries, Bharti Airtel, Hindustan Unilever and Bajaj Auto rallied 2-3 percent.
Market Analysis
Sensex, Nifty End Choppy Session Flat
2021-06-18 11:02:12
