Stock markets end flat in highly volatile trade amid monthly expiry

Mumbai, Feb 27 (PTI) Benchmark stock indices Sensex and Nifty closed flat on Thursday in a volatile trade amid unabated foreign fund outflows and monthly derivatives expiry.

The 30-share BSE Sensex eked out gains of 10.31 points or 0.01 per cent to settle at 74,612.43. During the day, it hit a high of 74,834.09 and a low of 74,520.78, gyrating 313.31 points.

The NSE Nifty slipped 2.50 points or 0.01 per cent to 22,545.05, registering its seventh day of decline.

From the Sensex pack, Bajaj Finserv, Bajaj Finance, Sun Pharma, Zomato, Tata Steel and Nestle were the biggest gainers.

UltraTech Cement, Tata Motors, Mahindra & Mahindra, Kotak Mahindra Bank, Tech Mahindra and State Bank of India were among the major laggards.

Foreign institutional investors (FIIs) offloaded equities worth Rs 3,529.10 crore on Tuesday, according to exchange data.

Stock markets were closed on Wednesday for 'Mahashivratri'.

"Markets traded dull on the monthly expiry day, closing nearly unchanged for the second straight session. After an initial uptick, Nifty quickly flattened, trading within a narrow range before settling at 22,545.05. The past two sessions reflect indecision, likely due to oversold conditions," Ajit Mishra – SVP, Research, Religare Broking Ltd, said.

Among Asian markets, Tokyo and Shanghai settled in the positive territory while Seoul and Hong Kong ended lower. European markets were trading mostly lower. US markets ended on a mixed note on Wednesday.

Global oil benchmark Brent crude climbed 0.69 per cent to USD 73.03 a barrel.

The Sensex climbed 147.71 points or 0.20 per cent to settle at 74,602.12 on Tuesday. The Nifty, however, slipped 5.80 points or 0.03 per cent to finish at 22,547.55. PTI SUM MR

Source: PTI