Equity indices flat, ONGC dips by 2.6 per cent


Mumbai (Maharashtra) [India], March 17 (ANI): Equity benchmark indices were volatile but largely flat during early hours on Wednesday on the back of mixed global cues.

Market experts said the sentiment was also suppressed by rising Covid-19 cases and a fall in macro readings like industrial production and rising inflation.
At 10:15 am, the BSE S&P Sensex was down by 15 points or 0.03 per cent at 50,349 while the Nifty 50 slipped by 9 points or 0.06 per cent to 14,901.

Most sectoral indices at the National Stock Exchange were in the red except for Nifty IT which rose by 1 per cent. Nifty pharma dipped by 0.7 per cent, metal by 0.6 per cent and PSU bank by 0.5 per cent.

Among stocks, HCL Technologies was up by 1.4 per cent to Rs 1,021.10 per share while Tech Mahindra rose by 1.3 per cent, Tata Consultancy Services by 1 per cent and Infosys by 0.8 per cent.

HDFC Bank, UPL, ITC and Mahindra & Mahindra too traded with a positive bias. However, energy stock fell with ONGC down by 2.6 per cent to Rs 112.10 per share, Bharat Petroleum Corporation by 2.1 per cent and IndianOil Corporation by 1.1 per cent.

Meanwhile, Asian stocks were in the negative terrain as investors awaited the outcome of US Federal Reserve’s monetary policy.

Japan’s Nikkei slipped by 0.23 per cent, Hong Kong’s Hang Seng by 0.14 per cent and South Korea’s Kospi by 1.1 per cent. (ANI)

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