Indian equities erased their early gains and were trading marginally in the green at the pre-close session on Friday amid firm European cues.
At 2.40 p.m., the 30-share BSE index Sensex was up 12.15 points (0.06 per cent) at 20,341.20 and the 50-share NSE index Nifty was up 7 points (0.12 per cent) at 6,006.05.
Among BSE sectoral indices, consumer durables, oil & gas, capital goods and PSU led the charge, while auto, metal, realty and FMCG indices succumbed to selling pressure.
Consumer durables index was up 1.33 per cent, followed by oil & gas 0.72 per cent, capital goods 0.59 per cent and PSU 0.35 per cent. On the other hand, auto index was down 0.76 per cent, metal 0.46 per cent, realty 0.28 per cent and FMCG 0.26 per cent.
ONGC, HDFC, Tata Steel, GAIL and Dr Reddy's were the top five Sensex gainers, while the top five losers were SSLT, Tata Motors, Hindalco, Bajaj Auto and Sun Pharma.
European stocks were up as investors awaited data that may show German business confidence increased in November after falling in October for the first time in six months. Asian shares were up.
The Dow Jones industrial average closed above 16,000 for the first time as the US Labour Department reported that applications for unemployment benefits have come down significantly. The number of applications received was close to where it was before the Great Recession, it said.
On the other hand, producer prices came down for the second straight month in October, an indication that inflation continues to remain muted in the world's largest economy. All Asian equities were on firm ground.
In a research note released ahead of Indian markets opening, HDFC Securities said: “Indian market could open flat to marginally in the green and remain volatile in a range of plus/minus 25 points on Nifty throughout the session…Among the sectoral indices, banks & capital goods could see some value-buying. However, FMCG could underperform.”
Brokerage firm Mehta Group expects some action by the Reserve Bank of India today to control rupee volatility, a move that will shape the market sentiment.
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