Caution ahead of Karnataka poll results, inflation keep equities flat

Karnataka Assembly election results will be declared on May 15.

Pic courtesy: PTI

Mumbai: Caution ahead of the Karnataka assembly election results and a rise in the April wholesale inflation rate subdued the key Indian equity indices on Monday.

According to market observers, heavy selling pressure was witnessed in consumer durables, auto and capital goods stocks.

At 3.30 p.m., the wider 50-scrip Nifty of the National Stock Exchange (NSE) provisionally closed flat at 10,806.60 points.

The barometer Sensitive Index (Sensex) of the BSE, which opened at 35,555.83 points, closed at 35,556.71 points (3.30 p.m) -- up by 20.92 points or 0.06 percent -- from its previous day`s close.

The Sensex touched a high of 35,642.72 points and a low of 35,456.56 points in the trade. The BSE market breadth was bearish with 1,827 declines and 845 advances.

The major gainers on the BSE were NTPC, Dr Reddy`s Lab, IndusInd Bank, State Bank of India and Hero MotoCorp, while Mahindra and Mahindra, Tata Motors (DVR), Tata Motors, Yes Bank and Bharti Airtel were the major losers.

On the NSE, the top gainers were NTPC, BPCL and IndusInd Bank. The major losers were Titan, Zee Entertainment and Tata Motors.