Sensex, Nifty Edge Up As Global Cues Boost Sentiment

Sensex, Nifty Edge Up As Global Cues Boost Sentiment

A sudden sell-off during the last hour of trade trimmed Friday's entire gains and led the key Indian equity indices to close trade on a flat note with marginal losses.

Equities ended the day with modest losses as early gains were erased by a bout of fag-end selling, led by metal stocks which came under heavy selling pressure after the U.S. imposed tariffs on some steel and aluminium imports, fanning fears of a global trade tussle.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE closed at 33,307.14 points - down 44.43 points or 0.13 per cent from its previous session's close.

However, the BSE market breadth was bearish with 1,530 declines and 1,197 advances. The MSCI All-Country World index, which tracks shares in 47 countries, was 0.1 per cent higher and set for a weekly gain of nearly 2 per cent.

Provisional figures from the stock exchanges showed that FIIs sold-off scrips worth Rs 280.74 crore, while domestic institutional investors (DIIs) purchased scrips worth Rs 131.07 crore during the week.

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The BSE metal index was the biggest loser in Friday's session after US President Donald Trump signed two proclamations that imposed tariffs on some steel and aluminium imports, sparking fears of retaliatory moves by other countries.

Figures from the National Securities Depository (NSDL) revealed that foreign portfolio investors invested in equities worth Rs 1,384.36 crore, or $212.98 million, during March 5-9.

Metal, HealthCare, PSU Bank were worst hit followed by Power, Oil&Gas, Capital Goods, IPOs, Realty, Banks, Auto, FMCG, Teck and IT segments.

Major Sensex gainers on Thursday were: State Bank of India, up 4.09 per cent at Rs 256.75; ICICI Bank, up 3.58 per cent at Rs 296.95; Adani Ports, up 2.95 per cent at Rs 388.60; Mahindra and Mahindra, up 2.45 per cent at Rs 727.25; and Reliance Industries, up 2.25 per cent at Rs 911.60. On the other hand, Tata Steel, Sun Pharma, YES Bank, TCS and Tata Motors were the losing stocks tanking as much as 1.98%.

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