Markets closed on a flat note with a negative bias with the Sensex down 11 points at 18,505 and the Nifty slipped five points at 5,623. (provisional)
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(Updated at 14:36 hrs)
Markets continued to remain in the negative territory in the noon deals with the Sensex down 101 points at 18,416 and the Nifty slipped 29 points to trade at 5,599. Investor sentiment weakened as both the Houses of the Parliament had to be adjourned due to uproar over FDI in retail and SC/ST quota Bill.
Earlier in the day, market remained volatile swinging between the red and the green. The Sensex touched a low of 18402 and the Nifty slipped to hit a low of 5,593 thus far.
The broader markets too gave off all the early gains. The midcap and the smallcap indices where flat, outperforming the BSE benchmark index which gave off 0.5%.
In Asia, shares rose on Friday and were on course for a weekly gain of more than 2.5 percent, their best in two months, after manufacturing surveys from the world's biggest economies raised hopes that the global growth outlook is improving at last.
Among the major markets, Nikkei was shut for the day. Shanghai Composite, Hang Seng, KOSPI Composite and Taiwan Weighted were the notable gainers adding between 0.6-3%.
European stocks opened slightly higher on Friday, set for their best week in about 10 months, on optimism that a funding deal for debt-stricken Greece is getting closer. CAC, DAX and FTSE were flat in early trades.
Consumer Durables and Auto indices up nearly 0.1% each were the only indices in the green in the noon deals. Persistent selling pressure was visible in PSU, Realty, Bankex, FMCG, Metal and Health care indices slipped 0.5-1%.
The only gainers among the Sensex-30 were BHEL, Hero MotoCorp, Coal India, Sun Pharma, Tata Motors, Dr Reddys Lab, Reliance Industries,Hindustan Unilever and HDFC up 0.1-1%
Among the draggers were NTPC, Gail India, Cipla, ITC, Wipro, Bharti Airtel, HDFC Bank, Sterlite, Tata Steel, ICICI Bank and L&T down 1-2%.
In individual stocks, Crompton Greaves moved higher by 4% at Rs 115 after the company said that it has set up a high-efficiency, low-voltage rotating machines (LVRM) plant at Goa.
Shares of aviation companies mainly Jet Airways and SpiceJet rallied more than 8-13% each on back of heavy volumes.
Shares of Edelweiss Financial Services and Greaves Cotton have rallied 4-7% each in otherwise subdued market on back of huge bulk deals in these counters.
Ranbaxy Laboratories was down 4% at Rs 493 after the pharmaceutical firm said that it has recalled Atorvastatin, a generic version of Lipitor, from the USA market.
Man Industries slipped 3% at Rs 136, extending its previous day’s 10% fall, after the company said the Dubai Financial Services Authority (DFSA) has suspended the Global Depository Receipts (GDRs) of the company from its official list.
The market breadth turned negative as 1500 stocks declined while 1183 stocks advanced on the BSE.
