Mumbai: Amid growth worries highlighted by the manufacturing PMI index falling to a 2-year low and dismal auto sales data released Friday, the Sensex and Nifty finished with marginal gains, albeit the sixth day of gains in a row.
The key driver, analysts said was the FII participation. The inflow of foreign funds in the Indian equity market has been over Rs 9,063.29 crore during the month of October.
“Market traded flat due to weak monthly two-wheeler sales and manufacturing growth for the month of October,” said Vinod Nair, Head of Research, Geojit Financial Services.
The Sensex closed 35.98 points higher at 40,165.03 after flip-flopping between the high of 40,283.30 and the low of 40,014.23. The broader Nifty closed 13.15 points up at 11,890.60.
On the global front, the markets were flat or sideways during the week. Market sentiment in the US was more driven by the developments on the US-China trade deal.
“While in recent weeks, the trade talks seemed to be moving in the right direction but during the week, the Chinese have expressed doubts whether long term trade deal is possible, leading to some weakness in US stocks, said Sanjeev Zarbade, VP PCG Research, Kotak Securities.
(IANS)
