Negative global cues, coupled with selling pressure in stocks of index heavyweights like State Bank of India (SBI), ITC, Hindustan Unilever (HUL) and ONGC, among others, led the key Indian equity indices to close on a flat-to-negative note on Thursday.
Both the indices, which opened in the green and touched fresh intra-day highs, succumbed to profit booking during the day's progress and closed on a marginally lower note.
The broader Nifty50 of the National Stock Exchange scaled a fresh intra-day high of 10,453 points and the barometer 30-scrip Sensitive Index (Sensex) of the BSE of 33,657.57 points.
On a closing basis, the Nifty50 fell by 16.70 points, or 0.16 per cent, to 10,423.80 points.
The BSE Sensex closed at 33,573.22 points -- down 27.05 points or 0.08 per cent.
The BSE market breadth was bearish -- 1,451 declines and 1,331 advances.
"Markets ended with modest losses on Thursday after touching new life highs in the morning session. Weakness in index heavyweights like SBI, ONGC and ITC pulled the Nifty lower," Deepak Jasani, Head - Retail Research, HDFC Securities, told IANS.
"Weak global cues also kept the sentiment subdued. Major Asian markets have ended on a negative note, barring the Nikkei index, while European indices like DAX and CAC 40 traded lower," Jasani added.
The broader market indices outperformed the BSE Sensex. The S&P BSE mid-cap index closed higher by 0.47 per cent and the small-cap index by 0.41 per cent.
Vinod Nair, Head of Research, Geojit Financial Services, said: "Market went through some profit-booking after touching the all time high. But the gradual change in FII (foreign institutional investors) inflows from negative to positive led by domestic cues will keep the India growth story intact.
"Pharma stocks emerged as a dark horse due to attractive valuations and expectation of faster US FDA (Food and Drug Administration) approvals for plants," said Nair.
In terms of investments, provisional data with the exchanges showed that FIIs invested in scrip worth Rs 1,038.31 crore, whereas domestic institutional investors (DIIs) divested in stocks worth Rs 667.91 crore (data for November 1).
On the currency front, the rupee closed almost flat at 64.61 against the US dollar from its previous close at 64.59-60.
"Healthcare, consumer durables, IT, oil and gas, realty, technology and banking indices made gains. Overseas, European stocks traded flat as investors waited for the latest rate decision from the Bank of England (BoE). Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.
"Asian shares advanced after the US Federal Reserve expressed optimism about the US economy in its policy statement released overnight. The US Fed kept interest rates unchanged on the expected line, but its commentary on the US economy has virtually confirmed a December rate hike," he added.
Sector-wise, the S&P BSE automobile index fell by 154.05 points, followed by FMCG index by 96.25 points and oil and gas index by 55.77 points.
On the other hand, the S&P BSE healthcare index rose by 353.24 points, consumer durables index by 231.61 points and IT index was up 30.59 points.
Major Sensex gainers on Thursday were: Lupin, up 3.26 per cent at Rs 1,060.90; Sun Pharma, up 2.69 per cent at Rs 563.20; Power Grid, up 2.14 per cent at Rs 215; Dr Reddy's Lab, up 1.88 per cent at Rs 2,405.40; and Coal India, up 1.54 per cent at Rs 290.10.
Major Sensex losers were: Hero MotoCorp, down 2.19 per cent at Rs 3,733.05; SBI, down 1.52 per cent at Rs 314.95; ONGC, down 1.52 per cent at Rs 188; ITC, down 1.52 per cent at Rs 265.60; and HUL, down 1.40 per cent at Rs 1,242.
--IANS
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