Equity indices flat, metal scrips lose

MUMBAI: Equity benchmark indices were flat during early hours on Thursday amid weak global cues.

Investors attributed depressed market sentiment to concerns about rising inflation worldwide and fears of tightening monetary policies by several governments.
At 10:15 am, the BSE S&P Sensex was up by 56 points or 0.11 per cent at 49,959 but the Nifty 50 cracked by 15 points or 0.1 per cent to 15,015.

Almost all sectoral indices at the National Stock Exchange were in the red with Nifty metal dipped by 3.1 per cent. Among stocks, Tata Steel slipped by 4.4 per cent to Rs 1,113.20 per share while Hindalco lost 4.2 per cent and JSW Steel cracked by 2.1 per cent.

The other prominent losers were ONGC, Coal India, IndianOil Corporation, Britannia, Sun Pharma and Tata Motors. However, Titan was up by 2.4, Mahindra & Mahindra by 1.8 per cent and Cipla by 1.5 per cent. IndusInd Bank, ICICI Bank, Dr Reddy’s and Infosys too traded with a positive bias.

Meanwhile, Asian markets traded lower as US stocks fell overnight after the release of Fed minutes of April policy review. Japan’s Nikkei index was down 0.01 per cent and Hong Kong’s Hang Seng index slipped 0.71 per cent. South Korea’s Kospi also fell 0.49 per cent. (ANI)