Equity parameters flat amid weak global cues

Nov 1, 2019

Mumbai (Maharashtra) [India], Nov 1: Equity benchmark indices were flat during early hours on Friday, a day after official data showed that output of core infrastructure industries fell by 5.2 per cent last month as against expansion of 4.3 per cent in the corresponding period last year.

At 10:15 am, the BSE S&P Sensex was up by 29 points at 40,158 while the Nifty 50 edged higher by 16 points to 11,893. All sectoral indices at the National Stock Exchange were in the green except for Nifty IT which slipped marginally by 0.2 per cent. Nifty media was up by 3.2 per cent. Among stocks, Zee Entertainment gained by 5.9 per, Bharti Infratel by 5.3 per cent and IndusInd Bank by 3 per cent. Metal companies like Tata Steel, JSW Steel and Hindalco added some gains. ITC, Tech Mahindra, Hero MotoCorp and Bajaj Finserv too were in the green.

However, oil retailers IndianOil Corporation and Bharat Petroleum Corporation fell by 3.4 per cent and 1.4 per cent respectively. Others which lost included Coal India, Tata Consultancy Services and Tata Motors.

Meanwhile, Asian stocks traded mixed after fresh concerns over US-China trade prospects and ahead of the US economic data. Japan’s Nikkei slipped by 0.44 per cent but Hong Kong’s Hang Seng index gained by 0.43 per cent and South Korea’s Kospi moved up by 0.42 per cent.

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