Markets settle flat in choppy trade

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Mumbai, September 2

Benchmark indices ended on a flat note on Friday after facing bouts of volatility during the day amid mixed global market trends.

The BSE Sensex inched up 36.74 points or 0.06 per cent to settle at 58,803.33. During the day, it hit a high of 59,108.66 and a low of 58,558.64.

The NSE Nifty dipped 3.35 points or 0.02 per cent to end at 17,539.45.

From the Sensex pack, ITC, HDFC, Larsen amp; Toubro, Axis Bank, HDFC Bank, NTPC, Kotak Mahindra Bank and State Bank of India were among the gainers.

However, Maruti, Reliance Industries, IndusInd Bank, UltraTech Cement, Nestle and Tata Steel were among the laggards.

Elsewhere in Asia, markets in Seoul, Tokyo and Hong Kong ended lower, while Shanghai settled in the green.

Bourses in Europe were trading in the green during mid-session deals. The US markets had ended mostly higher on Thursday.

"The market has struggled for a firm direction today as global markets were largely under selling pressure ahead of the release of US jobs data, which could provide insight into upcoming Fed actions.

"Oil prices rose ahead of the OPEC+ meeting on expectation of a reduction in output, despite the fact that weak global growth prospects remain a concern," said Vinod Nair, Head of Research at Geojit Financial Services.

Meanwhile, the international oil benchmark Brent crude climbed 2.01 per cent to USD 94.22 per barrel.

Foreign institutional investors (FIIs) offloaded shares worth a net Rs 2,290.31 crore on Thursday, as per exchange data.

The Tribune