Markets end in green, Asian cues push Sensex, Nifty higher

Markets ended marginally lower on Wednesday after nine consecutive sessions of gains owing to a fag-end rush among investors to unwind bets amid sustained foreign fund outflows

On Monday, healthy macro-economic data, along with expectations of robust quarterly corporate earnings, led the equity indices to close on a higher note for the eighth consecutive session.

The 50-stock NSE barometer Nifty finished 22.50 points, or 0.21 per cent, down at 10,526.20 after hitting the day's high of 10,594.20 and a low of 10,509.70. The metal producers are trading higher led after copper and aluminium prices rose in worldwide markets.

On NSE, the top gainers were Hindalco, Vedanta, and Tata Steel whereas the major losers were BPCL, Hindustan Petroleum and Indian Oil Corp.

TCS stock is up 0.50% ahead of Q4 results later in the day. Its consolidated revenue stood at Rs3,624.6cr, up 14.2% yoy and 3.7% qoq.

Metal shares led gains in the market today. It has also received a supplemental proposal from IHH.

Overall the benchmark indices were rangebound in trade and the volatility is expected to continue in near term as investors look for more corporate earnings and closely monitor crude oil prices, experts said.

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HPCL slumped 6 per cent while Bharat Petroleum Corp Ltd fell almost 7 per cent.

Sectorwise, the BSE Metal, Capital Goods and IT index gained 4.46 per cent, 1.06 per cent and 0.92 per cent, respectively, whereas selling was visible in The BSE Oil & Gas as well as Consumer Durables. On the BSE, 677 stocks rallied, 311 stocks declined, while 36 stocks remained unchanged.

Asian indices were showing a positive trend.

Rising copper prices in the global commodity markets cheered metal and mining stocks back home.

Meanwhile, shares of state-run oil refiners tumbled and were the top percentage losers on the NSE index as oil prices remain close to late 2014-highs on the back of declining USA crude inventories, while top exporter Saudi Arabia pushed for higher prices.

Yesterday, the rupee had lost 15 paise to end at a near 7-month low of 65.64 against the U.S. dollar amid persistent capital outflows and a fresh ripple of geopolitical tensions.

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