Sensex trades flat ahead of Q3 results

Sensex trades flat ahead of Q3 results

Mumbai: The benchmark BSE Sensex was trading flat, up 12.10 points in late morning trade amid bouts of buying in realty, telecom, Teck, IT, utilities, industrial and FMCG sectors ahead of announcement of key corporate results.

Investors were cautious after Asian markets traded lower following the US administration’s protectionist stance on pulling out North American Free Trade Agreement (NAFTA) affecting Wall Street.

Mild profit-booking witnessed in Oil and Gas and Energy segments.

The 30-share Sensex was trading higher by 12.10 points or 0.04 per cent at 34,445.17 at 1050 hrs.

However, the broader Nifty trading flat, marginally down by 1.90 points, or 0.02 per cent at 10,630.30. Major gainers were Bharti Airtl 1.67 per cent, Kotak Bank 1.51 per cent, Tata Motors 0.84 per cent, Infy 0.75 per cent and NTPC 0.46 per cent.

Notable losers were Coal India 1.20 per cent, Wipro 1.18 per cent, Axis Banks 1.17 per cent and ICICI Banks 0.93 per cent. TCS which was set to announce its quarterly results after market hours today dropped 0.72 per cent.

Foreign portfolio investors (FPIs) sold shares worth Rs 572.26 crore on net basis while domestic institutional investors (DIIs) bought equities to the tune of Rs 600.24 crore on Wedneday, provisional data showed.

Asian markets were trading lower after Wall Street fell yesterday as investors fretted over the possibility of China halting its Treasury bond purchases and the US pulling out of North American Free Trade Agreement (NAFTA).