Sensex rules flat in late morning trade

Friday, Aug 26, 2016,10:39 IST By metrovaartha A A A

Mumbai | Surrendering its early gains, the BSE benchmark Sensex was ruling flat by marginally declining 4.69 points in late morning deals following selling in shares led by capital goods, realty, banks, healthcare and financial sectors amid mixed Asian cues.

Caution ahead of a speech by US Federal Reserve Chair Janet Yellen at the annual gathering of central bankers in Jackson Hole, Wyoming, loomed over the trading momentum.

The 30-share index resumed higher at 28,882.75 and hovered between 28,935.88 and 27,793.22 before quoting at 27,831.22 at 1100 hrs, showing a mild loss of 4.69 points or 0.02 per cent from its last close.

The NSE 50-share Nifty also trading marginally lower by 3.85 points or 0.04 per cent at 8,558.35.

Major losers were, Adani ports by 1.77 pct, Asian Paint 1.47 pct, L&T 1.28 pct, SBIN 0.98 pct and Wipro 0.95 pct.

Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net Rs 372.08 crore yesterday, as per provisional data released by the stock exchanges.

Overseas, Asian stocks witnessed a mixed trend ahead of Federal Reserve Chairwoman Janet Yellen’s speech today, which could provide hints about the timing of the next rate hike from the Fed.

US stocks registered small losses yesterday, with healthcare stocks extending previous trading session’s decline.