Sensex, Nifty End Choppy Session On Flat Note
(RTTNews) - Indian shares fluctuated before ending on a flat note Monday.
Global cues were mixed but oil extended steep declines from Friday, helping ease concerns around twin deficits.
Concerns over FII flows exerted downward pressure on stock prices as the dollar held firm near last week's four-month peak versus major peers on optimism around Donald Trump's presidential victory.
Analysts predict Trump's re-election may favor corporates through deregulation, mergers and acquisitions and proposed tax cuts, but policies such as increased tariffs could result in an uptick in inflation and complicate the Federal Reserve's interest-rate plans.
Federal Reserve Bank of Minneapolis President Neel Kashkari indicated at the weekend that tariffs would hurt long-term inflation if global trade partners were to strike back.
The benchmark 30-share BSE Sensex ended the session up 9.83 points at 79,496.15 while the broader NSE Nifty index finished down 6.90 points at 24,141.30.
Asian Paints slumped 8 percent after Q2 net profit declined 42 percent on weak demand.
Britannia Industries lost nearly 6 percent ahead of its earnings release.
ONGC, Cipla and Apollo Hospitals Enterprise fell 2-4 percent while PSU major Power Grid Corp topped the gainers list to rally 4.4 percent.
IT stocks made a comeback, with Tech Mahindra, Infosys and HCL Technologies rising 1-2 percent.
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