Sensex Edges Higher, Nifty Hovers Near 8,350

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NewZNew (Mumbai) : BSE Sensex and Nifty traded flat on Friday with some profit-taking seen in banking stocks after their recent outperformance. The Sensex was up 20 points at 27,936 while Nifty edged up to 8,347, up 9 points.

However, buying was seen in broader markets, with BSE midcap and smallcap stocks rising nearly 0.4 per cent. Asian shares wobbled in early trading on Friday, while the euro wallowed around two-year lows after European Central Bank President Mario Draghi vowed to take more easing steps to spark growth in the euro zone.

Investors were likely to remain cautious ahead of the key US nonfarm payrolls report later in the session. Solid gains in employment would increase speculation that the U.S. Federal Reserve could raise U.S. interest rates in the middle of next year. MSCI’s broadest index of Asia-Pacific shares outside Japan was down about 0.1 per cent in early trading, while Japan’s Nikkei stock average rose 0.6 percent.

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