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Markets end flat in a see-saw trade day

06 April, 2018, 18:25 | Author: Shawna Walton
  • Domestic equities staged a strong comeback on Thursday

The reverse repo rate, at which it borrows from banks and absorbs excess liquidity, will remain at 5.75 per cent The 30-share index, which had gained almost 400 points in opening trade, made further headway to quote 526.62 points, or 1.59 per cent, higher at 33,545.69 at 1440 hours. Some hectic short-covering at a few front line counters too helped drive the key indices up sharply in today's session. The sentiment was subdued overseas as well after President Donald Trump instructed the USA trade representative to consider levying an additional $100 billion in tariffs on Chinese goods. Indices continued to trade with small losses in intraday so far. Trump previously announced $50 billion in proposed tariffs on goods imported from China, which responded by announcing about $50 billion in proposed tariffs on United States goods. Both these indices outperformed the Sensex.

The Sensex was down by 351.56 points or 1.05 per cent at the Wednesday's closing.

The broad-based NSE Nifty went up by 129.05 points, or 1.27 per cent, to 10,257.45.

It saw an intra-day movement of about 104.35 points.

With an aim to safeguard investors' interest, leading stock exchanges - BSE and NSE - have advised their members to take extra caution while trading in as many as 194 illiquid stocks.

Australian stocks slipped 0.35 percent and South Korea's KOSPI lost 0.3 percent. Wall Street was poised to open sharply lower.

The US Dow Jones Industrial Average ended 0.96 per cent higher in yesterday's trade.

Back home, the broader markets also participated in the rally, with the Nifty Midcap and Smallcap indices gaining 1.99 per cent and 2.29 percent, respectively. On the BSE, 1,459 shares rose and 1,057 shares fell. Mainland China markets are shut for a holiday.

Safe-have assets such as gold and the yen declined after recently appointed White House economic advisor Larry Kudlow said President Donald Trump's strident approach could be a tactic to get China to negotiate on trade practice.

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