Markets on Thursday closed flat on weak global cues, with Sensex ending lower by 38 points to 13,926. The broader market index Nifty edged up by 5 points to 4162.
Other Asian markets closed mixed on Thursday. While Japan’s Nikkei, Hong Kong’s Hang Seng and South Korea’s Kospi were in green turf, Shanghai Composite was in the red.
While selling was visible in oil & gas, IT, realty and auto counters, buying was evident in metal counters. The metal index on the BSE surged 2.5 per cent, led by Nalco, Hindustan Zinc and Ispat Industries. These metal stocks moved up by more than 6 per cent.
“I believe macroeconomic indicators would have larger impact on the markets, compared to the earning guidance from Infosys. So the market’s sentiment will depend on inflation and IIP numbers. I don’t expect IIP numbers to be impressive in the coming days,” said Daljeet S Kohli,Head Research PCG, Emkay Shares.
Among the BSE-30 scrips, the Hindalco stock moved up by 5.5 per cent to Rs 153, while DLF, which announced a buyback offer, was up by 1.8 per cent to Rs 458. Other major gainers include ACC and Ambuja Cements.
Infosys Technologies shed 0.8 per cent ahead of its quarterly numbers, which will be announced tomorrow.
Domestic passenger car sales rose by 6.1 per cent in June 2008 to 99,738 units, against 94,002 units in the same month last year.
According to the figures released by the Society of Indian Automobile Manufacturers (SIAM), motorcycle sales in the country last month went up by 8.2 per cent to 4,73,899 units as compared to 4,37,776 units a year ago.
Total two-wheeler sales in June also increased by 6.4 per cent to 6,01,941 units from 5,65,433 units in the same month last year.
Commercial vehicle sales during the month increased by 13.5 per cent to 40,324 units from 35,518 units during the year-ago period, SIAM said.