Sensex, Nifty settle flat in subdued trading; Reliance Industries earnings eyed

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Standard indicators Sensex And elegant It ended Friday flat in quiet trading amid largely weak global markets and ahead of quarterly earnings from the nation’s most valuable company Reliance Industries.

In choppy trading, the 30-share BSE Sensex Index rose 22.71 points, or 0.04 percent, to settle at 59,655.06. During the day, it recorded the highest level at 59781.36 and the lowest level at 59412.81.

The broader NSE Nifty Index closed at 17,624.05, showing a marginal decrease of 0.40 points.

Among the Sensex companies, International Trade CentreAnd Tata Advisory ServicesAnd WiproAnd Asian paintsAnd HCL TechnologiesHDFC Kotak Mahindra BankAnd Bajaj FinanceAnd InfosysAnd Sun PharmaAnd Hindustan UnileverAnd power gridReliance Industries and HDFC Bank They were the winners.

HCL Technologies It jumped 1 percent after the company on Thursday recorded an increase of 10.85 percent in consolidated net profit to Rs. 3,983 crore for the fourth quarter of 2022-23.

Tech MahindraAnd MarutiAnd Tata SteelAnd UltraTech CementAnd Tata Motors And ICC bank They were among the defaulters.

In Asian markets, Seoul, Japan, Shanghai and Hong Kong closed lower.

European markets were trading mixed. US markets closed in negative territory on Thursday.

Mounting uncertainty in both global and domestic markets has kept Indian stocks very volatile. Weak signals of a weak labor market and waning manufacturing activity in the US have raised fears of a possible recession. Despite RBI MPC’s unanimous decision to pause pricing, its minutes He revealed that its members were still worried about rising inflation.

“However, the market received some support towards the closing bell from the IT and FMCG sectors, which facilitated its recovery,” said Vinod Nair, Head of Research at Geojit Financial Services.

Meanwhile, Brent crude, the global benchmark for oil, fell 0.04 percent to $81.07 a barrel.

Foreign Portfolio Investors (FPIs) Shares worth ₹1,169.32 crore were offloaded on Thursday, according to exchange data.