Equity indices close flat after volatile session, metal stocks gain

Equity benchmark indices bounced between gains and losses on Tuesday but ended on a flat note with metal stocks gaining some ground.

The BSE S&P Sensex closed 8 points or 0.02 per cent lower at 37,973 while the Nifty 50 lost by 5 points or 0.05 per cent at 11,222.

Most sectoral indices at the National Stock Exchange were in the red but Nifty metal moved up by 1.9 per cent, auto by 0.3 per cent and IT by 0.2 per cent. Nifty PSU bank dipped by 1.3 per cent and private bank by 1.2 per cent.

Among stocks, Hindalco jumped by 5.3 per cent to Rs 176.60 per share, Tata Steel by 2.3 per cent and JSW Steel by 2.1 per cent.

The other major gainers were Hero MotoCorp, Titan, Tata Consultancy Services, HDFC and Bharat Petroleum Corporation.

However, UPL lost by 3.5 per cent, ONGC by 3.4 per cent, IndusInd Bank by 3.3 per cent and Axis Bank by 2.8 per cent. HCL Technologies, Bajaj Finserv and Bajaj Auto too traded with a negative bias.

Meanwhile, Asian markets were mixed after bargain hunters helped a recovery in US markets in the wake of last week's selloff.

Japan's benchmark Nikkei average was up by 0.12 per cent and South Korea's Kospi gained by 0.86 per cent. Hong Kong's Hang Seng index dropped by 0.85 per cent.

(ANI)