Sensex, Nifty End Flat; Metal Shares Fall, FMCG Stocks Gain

The S&P BSE Sensex and NSE Nifty 50 indexes ended on a flat note in trade on Wednesday…
sensex
The S&P BSE Sensex and NSE Nifty 50 indexes ended on a flat note in trade on Wednesday as gains in FMCG majors like ITC, Hindustan Unilever and HDFC Bank and HDFC were offset with losses in Reliance Industries, Bharti Airtel, ICICI Bank, Infosys and Axis Bank. The benchmarks traded in a range bound fashion withe Nifty touching an intraday high of 11,295.40n and low of 11,184.55 and the Sensex traded in a band of 400 points.

The Sensex ended 95 points or 0.25 per cent higher at 38,067.93 and Nifty ended 4 points higher at 11,226.50.

Six of 11 sector gauges compiled by the National Stock Exchange ended higher led by the Nifty FMCG index’s over 1 per cent gain. Financial services, information technology and pharma shares also witnessed buying interest.

On the other hand, metal, state-run banking, real estate, energy and auto shares faced selling pressure.

sensex

Mid- and small-cap shares also witnessed muted trading as Nifty Midcap 100 index ended little changed while Nifty Smallcap 100 index fell 0.27 per cent.

Grasim Industries was top Nifty gainer, the stock rose 3 per cent to close at ₹ 743. Tech Mahindra, Titan, Nestle India, Dr Reddy’s Labs, Shree Cements, Cipla, UPL and Britannia Industries also rose between 1.5-2.8 per cent each.

On the flipside, Bharat Petroleum slumped 9 per cent to close at ₹ 352 after the Government said it has extended the deadline for submitting initial bids to buy state-owned Bharat Petroleum Corp Ltd to November 16.

Bharti Airtel, Tata Steel, JSW Steel, IndusInd Bank, HDFC Life, Coal India, GAIL India, Indian Oil, Hindalco, Sun Pharma and Mahindra & Mahindra were also among the losers.

The overall market breadth was neutral as 1,272 shares closed lower while 1,238 ended higher on the BSE.

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