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Sensex, Nifty in the red; PSBs, metal stocks decline

Thursday,   30-Jul-2020   02:12 PM (IST)

Indian equity markets pared majority of the morning gains and turned flat on Thursday ahead of the monthly Futures and Options (F&O) contracts' expiry. The S&P BSE Sensex hovered around 38,020 levels, having risen to as high as 38,414 intra-day. The Nifty50 index was trading near 11,200-mark. IT stocks -- HCL Tech, TCS, and Infosys -- rose over 1 per cent. Bharti Airtel gained 2 per cent after posting 15 per cent growth in Q1 revenue. while InterGlobe Aviation slipped 4 per cent before recouping losses after posting its biggest-ever quarterly loss. Reliance Industries was trading over 1 per cent higher ahead of its Q1 results announcement. The Nifty sectoral indices were mixed, with the Nifty Pharma index, up 2 per cent, leading the list of gainers. In the broader market, the S&P BSE MidCap index dipped half a per cent and the SmallCap index was flat.