Equities end flat as investors await Karnataka poll results

Prime News, National, Business, Mumbai, May 14:- Benchmark indices surrendered early gains to end little changed today as wary investors shied away from making fresh bets ahead of Karnataka poll results.

Lacklustre macroeconomic data added to the cautious mood, brokers said.

Karnataka Assembly elections results will be declared tomorrow, with most exit polls predicting a tight race between the ruling Congress and the Bharatiya Janata Party (BJP).

On the macro front, wholesale inflation rose to a four-month high of 3.18 per cent in April, while industrial output growth fell to a five-month low of 4.4 per cent in March.

The BSE Sensex, after a better start at 35,555.83, advanced to hit a high of 35,642.72 amid positive cues from other Asian bourses.

However, emergence of selling at every rise wiped off initial gains and the index finally settled 20.92 points, or 0.06 per cent higher at 35,556.71.

The broader 50-issue NSE Nifty edged up just 0.10 points to close at 10,806.60, after shuttling between 10,834.85 and 10,774.75.

Meanwhile, domestic institutional investors (DIIs) bought shares worth a net Rs 1,163.35 crore, while foreign portfolio investors (FPIs) sold equities to the tune of Rs 325.44 crore on Friday, as per provisional data.

“Market traded range bound…ahead of tomorrow’s Karnataka state election verdict and CPI inflation data later in the day. -(Inputs: Agencies, NGB)

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