Markets trade flat amid heavy volatility

Equity benchmark indices were trading flat after initial gains in a highly volatile trade on Friday amid lack of any immediate trigger.

The 30-share BSE Sensex climbed 67.71 points to 66,085.52 in early trade. The Nifty advanced 28.9 points to 19,830.90.

However, later both the benchmark indices faced heavy volatility and were trading between highs and lows.

Among the Sensex firms, NTPC, Mahindra & Mahindra, Sun Pharma, UltraTech Cement, HDFC Bank and Axis Bank were the major gainers. Tata Motors, HCL Tech, Tech Mahindra and Bajaj Finserv were among the laggards.

In Asian markets, Tokyo traded in the green while Seoul, Shanghai and Hong Kong were quoting lower.

The US markets were closed for Thanksgiving holiday on Thursday.

“Positive catalysts include sluggish WTI oil prices, FIIs and DIIs as net buyers, and global markets expecting the Fed to halt rate hikes,” Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said in his pre-opening market comment.

Global oil benchmark Brent crude dipped 0.02 per cent to USD 81.40 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth Rs 255.53 crore on Thursday, according to exchange data.

The BSE benchmark dipped 5.43 points or 0.01 per cent to settle at 66,017.81 on Thursday. The Nifty slipped 9.85 points or 0.05 per cent to 19,802.