Sensex recovers from early loses to trade flat

Mumbai: The benchmark BSE Sensex pared its initial losses and was trading marginally lower at 0.90 points, while the broader NSE Nifty reclaimed the 8,000-level in late morning deals. Buying in healthcare, oil & gas, realty and consumer durable stocks cushioned the fall.

Caution prevailed ahead of the GDP data for June quarter to be released after hours and the speculation of US Federal Reserve indicating interest rate hike in September. The BSE Sensex resumed higher at 26,469, later slid to 26,225.71 before trading 26,392.38 at 1105 hrs, down marginally by 0.90 points.

Read: Sensex trips 147 points on profit-booking, weak Asian cues

The 50-share Nifty was trading marginally up by 1.45 points to 8,003.40 at 1105hrs. Major losers were, BHEL 1.94 per cent, Bharti Airtel 1.84 per cent, Vedanta 1.76 per cent, Tata Steel 1.53 per cent, Tata Motors 1.22 per cent, Bajaj Auto 1.16 per cent, Infosys 0.18 per cent, and RIL 0.60 per cent.

While the gainers were GAIL 2.21 per cent, Lupin 2.06, Cipla 1.84 per cent, Sun Pharma 1.84 and ONGC 1.48 per cent. Foreign investors bought shares Rs 56.41 crore on Friday, as per provisional data.

In overseas markets, Asian stocks were trading lower after top Federal Reserve officials kept the door open for an interest rate hike in September. Key benchmark indices in China, Singapore, Taiwan, Hong Kong, Japan, and South Korea fell between 0.4 per cent and 2.61 per cent. In Indonesia, the Jakarta Composite rose 0.72 per cent.