Indian equities end flat after a volatile session on Wednesday - ICICI Bank : Treasury Research

Indian equities witnessed a volatile session of trade today, ending the day largely flat. Stocks incurred losses in the early session of trade amidst sharp depreciation in the Rupee to above the 68-level mark. However, in the latter session of trade, equities recouped losses on the back of value-buying in select stocks. Marginal recovery in the Rupee before market-close also aided sentiment. Gains in metal and IT stocks offset losses in banking and oil and gas stocks. The Sensex ended at 17,996.15 (+0.16%) while Nifty closed at 5285.0 (-0.05%).

The BSE Bankex ended lower at 9979.36 (-1.28%). SBI ended lower at INR 1498.20 (-1.43%) and ICICI Bank ended down at INR 796.65 (-0.83%).

Asian stocks ended mostly lower today as concerns that US may consider military action against the Syrian government rose. Nikkei declined by 1.51% as a stronger Yen weighed on the outlook for exporters' stocks. Hang Seng and Shanghai Composite ended down by 1.60% and 0.11% respectively, dragged by losses in financials. Australia's ASX also ended lower by 1.05%. Kospi, meanwhile, managed to recover most of its intraday losses amidst value-buying by foreign investors and ended the session flat.

Source : Equity Bulls

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