Sensex pares initial gains in choppy trade, Nifty below 10,800; telecom, power, auto, FMCG stocks down

Mumbai: The BSE Sensex surrendered its initial gains to trade flat in late morning trade on Thursday amid buying in energy, realty, IT and consumer durables counters.

Lack of definite domestic cues and a mixed trend at other Asian markets affected momentum.

Profit-booking was seen in telecom, utilities, power, energy, healthcare, auto and FMCG sectors.

The 30-share index was trading at 35,553.16, showing a marginal gain of 5.83 points, or 0.02 percent at 1055 hrs.

Representational image. Reuters.

Representational image. Reuters.

The broader Nifty-50 index was trading at 10,775.25, up 3.20 points, or 0.03 percent.

Major gainers were ICICI Bank 1.64 percent, Adani Ports 1.48 percent, Reliance 1.07 percent, Vedanta 0.61 percent and Infosys 0.45 percent.

Losers included Power Grid 2.03 percent, ONGC 1.66 percent, SBI 0.82 percent, M&M 0.75 percent and Sun Pharma 0.74 percent.

Meanwhile, foreign portfolio investors (FPIs) sold shares worth Rs 2,442.61 crore on net basis, while domestic institutional investors (DIIs) bought equities to the tune of Rs 1,473.65 crore yesterday, provisional data showed.

Overseas, Asian markets were mixed, driven by uncertainty surrounding trade relations between the US and China.

In the US, the Dow Jones Industrial Average posted its seventh consecutive daily decline yesterday.

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Updated Date: Jun 21, 2018 13:09:30 IST

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