Nifty surrenders early gains to end flat, US 'shutdown' looms

Mumbai: Stocks relinquished early advances and closed virtually flat on the National Stock Exchange (NSE) today following profit-taking after a overnight magnificent rally amid US debt ceiling worries.The benchmark CNX Nifty fluctuated between a high
nifty surrenders early gains to end flat us...
PTI 04 Oct 2013, 08:00 PM IST
Mumbai: Stocks relinquished early advances and closed virtually flat on the National Stock Exchange (NSE) today following profit-taking after a overnight magnificent rally amid US debt ceiling worries.






The benchmark CNX Nifty fluctuated between a high of 5950.45 and a low of 5,885 before ending at 5,907.30, showing a loss of 2,40 points, or 0.04 per cent.

Financials, technology and capital goods counters witnessed most of the selling. However, healthy buying in fmcg, auto, metal, pharma and energy shares cushioned the index fall.

The market mostly stayed in positive zone after a shaky start led by key frontline heavyweights. It turned extremely weak towards the tail-end session as investors preferred to take out profits after yesterday's blockbuster rally.

Subdued global cues due to ongoing US ‘shutdown' stalemate, which dragged into a fourth day also weighed on sentiment.

Dr Reddy, Power Grid, Jindal Steel, IDFC, L&T, Axis Bank, Asian Paint, Cairn, Indusind Bank and NTPC were among the key Nifty losers.

Notable index stock gainers included Hindalco, Coal India, Lupin, BPCL, Tata Motors, Maruti, Tata Steel, M&M, Ultracemco and Bharti Airtel.

Turnover in the cash segment dropped to Rs 10,794.44 crore from 12,266.97 crore yesterday. A total of 5,941.45 lakh shares changed hands in 57,50,546 trades. The market capitalisation stood at Rs 63,48,945 crore.
 
   
 

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