Friday 4 October 2013

Sensex ends flat; Realty, auto stocks jump

The Sensex and the Nifty ended the session flat amid weak global cues. The 30-share BSE index Sensex was up 17.84 points (0.09 per cent) at 19,919.91 and the 50-share NSE index Nifty was down 0.85 points (0.01 per cent) at 5,908.85.

On the BSE, realty, auto and metal indices remained investors' favourite and were up 1.89 per cent, 1.01 per cent and 0.63 per cent, respectively.

On the other hand, capital goods, power, banking and IT indices fell the most by 0.52 per cent, 0.5 per cent, 0.22 per cent and 0.07 per cent, respectively.

Hindalco, Coal India, Tata Motors, Maruti and Tata Steel were the top five Sensex gainers, while the top five losers were Dr Reddy's, Jindal Steel, L&T, ONGC and ICICI Bank.

European stocks were unchanged and Asian stocks were down as negotiations between US lawmakers on the federal budget and debt limit entered the fourth day.

Stoxx 50 was up 11.35 points or 0.39 per cent at 2,913.47, FTSE 100 was up 2.32 points or 0.04 per cent at 6,451.36 and DAX was down 0.67 points or 0.01 per cent at 8,597.24.

In the Asian trade, Japan's Nikkei fell 132.94 points or 0.94 per cent to 14,024.30, Hong Kong's Hang Seng shed 114.14 points or 0.49 per cent to 23,100.30 and Australia's S&P/ASX 200 was down 26.89 points or 0.51 per cent at 5,208.

The US Treasury had said that in case the political standoff leads to a default, it could have a catastrophic effect on not just financial markets but also on job creation, consumer spending and economic growth.

President Barack Obama had met Republican and Democrat leaders in Congress but reiterated in a speech that he would not give in to Republican demands to rollback his healthcare programme in exchange for reopening the government.

According to US Labour Department, jobless claims rose to 308,000 in the week ended September 28, from a revised 307,000. The US payrolls data will not be released as scheduled today because of the government shutdown.

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