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Midcaps, RIL gain as Sensex, Nifty end flat

India TV Business Desk New Delhi 31 Mar 2017, 17:55:27 IST
India TV Business Desk

Equity markets closed flat at the end of the day’s trading amid volatility and global cues as investors booked profits in recent outperformers. The BSE Sensex ended 0.09 per cent lower at the close of the day’s trading on Friday, ending 27 points lower at 29, 621 points after touching an intra-day high of 29,673. The 50-share Nifty also ended flat at 9173.75.

This was also the last trading session of the quarter ending March 31. For the quarter, the Nifty rose 11.9 per cent, its best performance since the April-June quarter of 2014 when Modi was elected to power. In 2016-17 fiscal so far, the NSE has surged 18.5 per cent, rebounding from an 8.9 per cent fall in the previous financial year.

Buoyed by the BJP’s win in Uttar Pradesh polls, the Nifty advanced 3.1 per cent this month after hitting a record high of 9,218.40 on March 17. Net foreign inflows of $4.67 billion into equity markets as of March 30 also spurred the rally.

Among midcap gainers, SCI, ICICI Prudential and Cairn gained more than 2 per cent, while Infibeam Incorporation was down more than 15 per cent after addition in F&O segment.

United Bank of India, Just Dial, Motherson Sumi and Dishman Pharma also lost 2-5 percent.

Shares of Reliance Industries Ltd (RIL) rose as much as 5.25 per cent on Friday, the last day of a promotional offer by its telecom subsidiary Reliance Jio Infocomm Ltd.

The stock touched a high of Rs 1,336 on the BSE earlier in the day. At 2pm, it was trading at Rs 1,328.80, up 4.7 per cent from its previous close, while India’s benchmark Sensex was down 0.14 per cent at 29606.15 points.

However, the scrip erased early gains and closed up 3.93 per cent at Rs 1,319.20.