Benchmark equity indices pared early gains to end in the red on Thursday amid profit booking in healthcare, capital goods, metal and auto stocks.The BSE Sensex closed 115 points down at 35,432, while NSEs Nifty50 settled 31 points lower at 10,741.
Sustained selling by foreign institutional investors and a sliding rupee also weighed on sentiment.More than 30 stocks in the Nifty index closed in the red with Mahindra Mahindra, Bharti Infratel and Dr Reddys Labs falling over 2 per cent each.
Oil marketing companies HPCL, BPCL and IOC rallied up to 4 per cent.Abhijeet Dey, Senior Fund Manager-Equities, BNP Paribas Mutual Fund said, Both Sensex and Nifty closed the day with marginal losses.
Minutes from RBIs most recent policy meet showed inflation risks have increased since April, 2018.
This information, in the backdrop of rising crude oil price left investors uncertain and weary of market direction.Shares of RIL and ICICI Bank rallied over 1 each.Bulk deals were seen on the counters of Kwality and VLS Finance on the National Stock Exchange and in Adani Ports and Medico Remedies on BSE.
Here are all the bulk deals from Thursdays session:BSE Bulk DealsNSE Bulk DealsNifty still remains in a broad symmetrical triangle formation and is moving towards its apex, says Milan Vaishnav, Technical Analyst, Gemstone Equity Research and Advisory.The 10,820-10,850 zone continues to pose a formidable resistance for markets.
It is perhaps the time to get cautious, keep positions moderate and vigilantly protect profits at higher levels unless this pattern breaks with a sharp upward move, he said.