Flat finish for Sensex…Nifty misses 5550 again

The Indian markets ended on a flat note on Monday starting off the week on a sluggish note. The benchmark indices stayed in a narrow trading range and were unable to find any specific direction. However, in the second half, key indices witnessed some upswing after the European markets opened in the green.



"The NSE Nifty failed to capture the 5,550 levels for the third straight trading session indicating that the Nifty is facing stiff resistance at the 5550 levels", says Amar Ambani, Vice President, Research – India Private Clients, IIFL.

The Indian markets ended on a flat note on Monday starting off the week on a sluggish note. The NSE Nifty failed to capture the 5,550 levels for the third straight trading session.

The BSE FMCG index was the only loser among the BSE sectoral indices. Among the major gainers were, Consumer Durbles index (up 4%), followed by BSE PSU index (up 1%) and BSE Teck index (up 0.8%).

The Sensex edged higher by 8 points to close at 18,409, the index hit an intra-day high of 18,458 and an intra-day low of 18,371. While, NSE Nifty gained 13 points to close at 5,544.

Markets in Asia ended in the red; the Nikkei in Japan slipped 0.7%, Australia's S&P/ASX ended flat, the Hang Seng index in Hong Kong edged lower by 0.3% and the Shanghai SE Composite edged lower by 0.2%.

On the other hand, the European indices were trading in the green, the DAX in Germany was up 0.4%, the CAC 40 index in France was up 0.8% and the FTSE in the UK was up 0.7%.