Key Indian equity indices trade in red

A man looks at a screen across a road displaying the Sensex on the facade of the Bombay Stock Exchange

The market was shut yesterday on account of “Eid-Ul-Fitr”.

“The market is consolidating while awaiting the next triggers from the start of earnings season next week and the monsoon session of parliament to take cues on the sustainability of the recent rally”, said Vinod Nair, Head of Research, Geojit BNP Paribas Financial Services.

The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 27,209.97 points, closed at 27,201.49 points – up 34.62 points or 0.13 per cent from the previous close at 27,166.87 points.

The NSE Nifty broke below the 8,300-mark by falling 40.40 points, or 0.48 per cent, to 8,297.50.

It was another lackadaisical performance from the Indian benchmark indices on Thursday, as they failed to gain ground and settled marginally above the neutral line.

European markets were trading in green, France’s CAC was up by 63.24 points or 1.55% to 4,148.54, Germany’s DAX gained 99 points or 1.06% to 9,472.26, while UK’s FTSE 100 was higher by 99.08 points or 1.53% to 6,562.67.

Lupin: Pharma firm Lupin has received Establishment Inspection Report (EIR) from the U.S. health regulator for its Goa facility regarding a inspection done by the USFDA in July past year. Power Grid Corporation, ITC and Cipla are up by about 1.5%, while HDFC Bank is up 1.1%.

Among the gainers, Punjab National Bank jumped 3.07 percent after its unit PNB Housing Finance filed for a 25-billion-rupee initial public offer.

Of the 30-share Sensex pack, 12 advanced while 18 fell.

Asian peers, Hang Seng and Shanghai were down 0.92 per cent and 0.91 per cent, respectively, in the morning trade.

The small-cap index ended 0.04 per cent higher while the mid-cap index fell 0.41 per cent.

The BSE market breadth was tilted in favour of the bulls – with 1,546 advances and 1,207 declines.