Markets end flat as capital goods, bank stocks spike in trade

Mumbai: A day after the union cabinet passed an ordinance to amend the Land Acquisition Act, a benchmark index of the Indian equities markets closed flat Tuesday. The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE) closed Tuesday’s trade provisionally up 7.81 points or 0.03 percent. It had gained 154 points Monday on the back of hopes of further reforms. The markets were hopeful that the government will go ahead and amend the mining legislation too through an ordinance.  Healthy buying was observed in capital goods, banks and consumer durables stocks, while heavy selling pressure was seen in oil and gas, metal and automobile scrip. The sensitive index of the S&P BSE, which opened at 27,478.30 points, closed trade at 27,403.54 points (3.30 p.m.) - up 7.81 points or 0.03 percent - from the previous day’s close at 27,395.73 points. The Sensex has touched a record high of 27,478.30 points and a low of 27,312.29 points in the intra-day trade. The S&P capital goods index surged 155.88 points, bank index was up 143.37 points and consumer durables index gained 130.24 points. However, oil and gas index lost 121.31 points, metal index moved lower by 117.51 points and automobile index inched down by 50.14 points. The wider 50-scrip Nifty of the National Stock Exchange (NSE) also ended flat. It was was up marginally by 1.95 points or 0.02 percent at 8,248.25 points.   IANS