Mixed day for India equities as key indexes halt 7-day rally
The benchmark S&P BSE Sensex swung at least twelve times between losses and gains
Mumbai: Indian equities closed mixed with traders cautious ahead of a public holiday and a US interest rate decision. Key stock indexes had gained in the previous seven days to more than six-month highs.
The benchmark S&P BSE Sensex swung at least twelve times between losses and gains before ending the day up 0.1 percent at 38,386.75 in Mumbai. The NSE Nifty 50 Index fell 0.1 percent to 11,521.05. The markets will be closed tomorrow for a holiday.
The ninth straight day of local-equity purchases by overseas investors through March 18 has boosted their inflow to $3.3 billion (Dh12.12 billion) so far this month, the highest in two years. A looser-than-expected global monetary stance has revived investors’ interest for riskier emerging market assets while hopes that Prime Minister Narendra Modi will get another five-year term in the national polls, that conclude in May, have boosted fund flows to India.