Equity indices end flat after volatile trade, metal stocks gain
Aug 05, 2020
Mumbai (Maharashtra) [India], Aug 5 : Equity benchmark indices wiped out all intra-day gains to end flat on Wednesday but metal and auto stocks gained substantially.
When the closing bell rang, the BSE S&P Sensex was down by 25 points or 0.07 per cent at 37,663 but the Nifty 50 gained by 6 points or 0.06 per cent at 11,102.
Except for Nifty pharma, PSU bank and FMCG, all sectoral indices at the National Stock Exchange were in the positive terrain with Nifty metal moving up by 4.2 per cent and auto by 2.1 per cent.
Among stocks, Hindalco emerged as the top gainer by adding 8.6 per cent at Rs 176.40 per share. Tata Steel was up by 6.6 per cent at Rs 397.05 while JSW Steel ticked up by 3 per cent to Rs 235.15 per share.
Auto majors too advanced with Eicher Motors up by 4.3 per cent, Tata Motors by 3.6 per cent, Mahindra & Mahindra by 2.6 per cent and Maruti Suzuki by 2.5 per cent.
However, those which lost included Reliance Industries, Wipro, HDFC Bank, Nestle India, Tech Mahindra and HCL Technologies.
Meanwhile, Asian markets were mixed as global investors hoped for a fresh stimulus in the United States to shore up the economy in the wake of Covid-19 crisis.
Hong Kong's Hang Seng moved up by 0.62 per cent while South Korea's Kospi gained by 1.493 per cent. But Japan's Nikkei was down by 0.26 per cent.
