Economy

Indian market ends flat, hit by global tension over North Korea

Indian market ends flat, hit by global tension over North Korea”

The 50-share NSE Nifty, however, was little changed, ending 1.20 points down - or 0.01 per cent - at 10,085.40 after hovering between 10,043.65 and 10,115.15.

The Nifty ended 0.01 percent lower at 10,085.40 but finished the week with a 1.5 percent gain.

Indian markets ended higher on Thursday.

Due to North Korea's missile launch on Japan, U.S. stock futures fell 0.2% while MSCI's Asia-Pacific share index excluding Japan shed 0.4% - though it was still up 0.4% on the week.

Most other Asian markets closed mixed. Most of the stocks were trading negative or flat on this index.

S&P BSE Bankex was trading at 28014.22 below 61.96 points or 0.22%. There is an expectation that Feds would probably raise the interest rates, which could possibly strengthen the dollar. "Continued FII selling and tightening monetary policies in the United States will curtail easy liquidity, which is making investors cautious", said Vinod Nair, Head of Research, Geojit Financial Services Ltd.

Foreign portfolio investors (FPIs) sold shares worth a net Rs 1334.23 crore yesterday, as per provisional data released by the stock exchanges.

The gauge rallied 579.96 points in the previous six sessions, on the back of continuous capital inflows by domestic institutional investors (DIIs).

The Indian rupee strengthened by 4-5 paise to 64.07-08 against the USA dollar from its previous close at 64.12.

The equity markets on Friday managed to guard against any major downturn after global markets went volatile on the back of yet another missile test by North Korea. "State-owned Oil and Natural Gas Corporation, however, rose as much as 4.4 per cent, the top percentage gainer on the NSE index, and in line to snap a three-session losing run", Desai told IANS.

On the other hand, the S&P BSE IT index was up 103.78 points, Teck (technology, media and entertainment) index by 43.63 points and the oil and gas index by 43.13 points. The major gainers of BSE Sensex were ONGC, Coal India, Adani Ports and M&M while the major losers in Sensex during early morning trade were PowerGrid, SunPharma, Kotak Bank and Axis Bank.



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