Indian equities ended on a flat note on Monday largely due to weak global cues which triggered selling by funds and retail investors in select stocks.

The BSE Sensex down by 0.1 per cent or 20.85 points to close at 19,895.1. The Nifty index was down by 0.02 per cent at 5906.15. Global sentiment was dampened as US House Speaker John Boehner ruled out raising the federal government’s debt limit without setting pre-conditions. Earlier in the day, the Nifty hit the day’s low of 5825 in the first hour of trading.

“As US Dollar/ Indian rupee remained sideways for most part of the day, Nifty staged a smart recovery. And today’s recovery from lower levels suggests that further upsides can be expected in this week,” a report by Inventure Growth & Securities suggested.

The Indian rupee depreciated vis-a-vis the dollar by 35 paise today to close at Rs 61.79.

On the Nifty, Ranbaxy, Tata Steel and BPCL were the major gainers while Coal India, Bharti Airtel and Axis Bank were the losers.

Among sectoral indices, IT (up 1.2 per cent), Metal (up 0.91 per cent) and Teck (up 0.89 per cent) led the charge on the BSE. The Capital Good Sector (down 0.39 per cent), PSU (down 0.41 per cent) and Bankex (down 1.16 per cent) were the chief laggards on the BSE.

(This article was published on October 7, 2013)
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