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The stock markets closed flat after falling marginally on Thursday reeling under the impact of disappointing IIP data for June as well as lower than expected numbers announced by corporate bigwigs including Airtel, Ranbaxy and Tata Motors.
The Sensex closed at 17,561, down 40 points or 0.23 per cent while the Nifty closed at 5,323, down 16 points or 0.28 per cent. FMCG, metal and auto sectors managed to grab the attention of investors however oil & gas, technology and bank sector stocks remained under pressure.
Head Research-Inventure Growth & Securities, Milan Bavishi said: “The markets have hit a roadblock over the last two days. The challenging outlook expected for the telecom sector has affected overall sentiment.”
“In the otherwise indecisive market, FMCG stocks acted defensive and held buying interest. The international markets remained sluggish with most of the European markets trading flat,” he added.
Volatility was down with India VIX closing at 16.33, down 0.24 per cent.
Mahindra & Mahindra, Sterlite, HUL, Tata Power and Coal India were the top Nifty gainers while Bharti Airtel, SBI, HDFC, BPCL and Ranbaxy were the losers on the Nifty.
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