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India shares end flat, oil marketing companies poised for gains

India shares end flat, oil marketing companies poised for gains

Shares of Indian oil marketing companies outperformed the broader flat market Friday helped by lower global crude oil prices and are set for further gains, traders said.
The Bombay Stock Exchange's 30-stock Sensitive Index, or Sensex, fell 16.60 points, or 0.1 percent, to 12,372.81 points.
On the rival National Stock Exchange, the 50-stock S&P CNX Nifty rose 4.80 points, or 0.1 percent, to 3,569.70 points.
Dealers expect shares of oil companies to rise further next week since lower crude prices will boost profitability.
State-run Indian Oil Corp. gained 4.3 percent to 562 rupees, Hindustan Petroleum Corp. rose 4.7 percent to 305 rupees, while Bharat Petroleum Corp. ended 4.7 percent higher at 394 rupees.
The broader market ended flat damped by technology shares, which lost ground as nervous investors took profit.
"I am positive on the market, but how it performs next week will depend on second-quarter results," said Jignesh Desai, head for institutional sales at Networth Stock Broking.
Software exporter Wipro ended 1.4 percent lower at 514 rupees and Tata Consultancy Services Ltd., India's largest software company by sales, slipped 0.6 percent to 993 rupees.


Updated : 2020-12-05 11:06 GMT+08:00