Flat end for Sensex…Realty stocks decline

The Indian markets started off the truncated week on a quite note despite firm cues from the US and the Asian markets. After starting off on a positive note, markets were under pressure throughout the day until the last hour as buying in the Oil & Gas, Consumer Durables, Power and Capital Goods stocks lifted the benchmark indices from days low.

While the BSE Realty index was the top loser, the index fell 1.7% while BSE Pharma and Auto index slipped 0.5% and 0.2% each.



Finally, the BSE Sensex ended at 17,569, up 7 points. It had earlier touched a day's high of 17,632 and a day's low of 17,455. It opened at 17,594. The NSE Nifty closed at 5,289, up 5 points.

The advance decline ratio was in favour of the advances as on the BSE, 1434 stocks advances as against 1399 declining stocks. While, 131 shares remained unchanged.

The India VIX index ended higher by 1.2% to close at 23.71. The index hit a high of 24.74 and an intra-day low of 20.75. The VIX closed at 23.43 in the previous trading session.

Shares of SBI were in demand today ahead of its results announcement tomorrow. The stock rose over 1.5% to close at Rs1997. The stock opened at Rs1977 and hit an intra-day high of Rs2001. The stock also hit an intra-day low of 1960.

"Markets direction would depend mainly upon the main events like the IIP data for September and of course inflation. Attention will be paid to global developments. Brent Crude prices gained as concerns elevated about Iran's nuclear program. However, it would be wise to have a stock specific approach," says Amar Ambani, Head of Research, IIFL.

Globally, the US market staged a comeback of sorts with the Dow gaining 85 points. The S&P 500 added 8 points while the Nasdaq was up 9 points.

In Asia, the Hang Seng index ended almost flat, while the Nikkei index ended lower by 1.2%.

In Europe, the FTSE index was trading higher by 1.2%, CAC index in France was up 1.5% and DAX index in Germany added 1.7%.