Mumbai: The BSE Sensex pared its early gains to trade flat in late morning deals on Friday amid small bouts of buying in auto, capital goods, metal, telecom and industrials sectors amid lower Asian cues.
Power, utilities, oil and gas and banks saw profit-booking. The benchmark opened positive after official data released after market hours yesterday showed that India's January-March 2018 GDP growth soared to a seven quarter high of 7.7 per cent, helping it retain the tag of the fastest growing major economy.
The 30-share index was trading higher at 35,339.49, showing a gain of 17.11 points, or 0.05 per cent at 1100 hrs. The broader Nifty-50 index was trading at 10,735.65, up 0.50 points, or 0.00 per cent.
Major gainers were Bajaj Auto 5.30 per cent, Maruti Suzuki 2.58 per cent, Tata Motors 2.51 per cent and L&T 1.93 per cent. Losers included PowerGrid 2.73 per cent, ONGC 2.11 per cent, Adani Ports 1.61 per cent, Kotak Bank 1.38 per cent and HUL 1.19 per cent.
Meanwhile, foreign portfolio investors (FPIs) sold shares worth Rs 15.31 crore on net basis, while domestic institutional investors (DIIs) also sold equities to the tune of Rs 266.02 crore yesterday, provisional data showed.
Overseas, most Asian markets slipped after the Trump administration's tariffs on imports from key allies sent US and European stocks into a tailspin. US stocks fell yesterday as the president's escalation of trade tensions with Canada, Mexico and the European Union hammered American industrial and financial shares
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