1. Sensex ends colourless after muted trade

Sensex ends colourless after muted trade

Indian stock markets closed flat on Thursday after opening up marginally higher as the gains in the heavyweight shares of Infosys and Sun Pharma were offset by the decline in other blue-chips such as Reliance Industries and HDFC twins.

By: | Updated: August 24, 2017 4:22 PM
The shares of India’s second-largest information technology firm Infosys rose as much as 2.7% to Rs 918.8 on BSE. (Image: BSE)

Indian stock markets closed flat on Thursday after opening up marginally higher as the gains in the heavyweight shares of Infosys and Sun Pharma were offset by the decline in other blue-chips such as Reliance Industries and HDFC twins. The shares of India’s second-largest information technology firm Infosys rose as much as 2.7% to Rs 918.8 on the news of Nandan Nilekani is likely to return to resolve the leadership crisis and begin a second innings at the Indian IT bellwether.

The benchmark Sensex which opened over 100 points today, traded weak through the day and closed up 0.09% at 31596.06 points while the broader Nifty 50 settled just 0.05% up at 9,857.05 points. Shares of the blue-chip companies Infosys, L&T, Sun Pharma and Tata Motors, Lupin and Cipla were the top contributors in uplifting the 30-share barometer Sensex while HDFCHDFC Bank, Reliance Industries, ITC and Asian paints capped the gains. The sectoral indices of NSE were trading mixed with four out of eleven of them closed in red.

Shares of Cadila Healthcare gained over 8% on Thursday drugmaker announced that Zydus Cadila received final approval from the USFDA to market candesartan cilexetil tablets used for the treatment of hypertension. The stock of Cadila Healthcare rose as much as 8.93% to the day’s high of Rs 504 on NSE. The Nifty Pharma index gained 3.55% to 8,921.4 points and was the biggest gainer today led by the upsurge in Cadila shares.

Shares of Indian breweries and distilleries companies rallied on Thursday after the Supreme Court of India clarified that the highway ban on liquor sale imposed by it is not applicable to licensed bars and beverages outlets within the municipal area — in bounds of the city. The stock of most of the liquor manufacturing companies surged today including United Spirits which gained 5.51% to the day’s high of Rs 2,607.9 and United Breweries which rose 1.93% to the day’s high of Rs 820. The stocks Globus Spirits and Tilaknagar Industries also advanced 14.88% and 7.63% respectively.

US stocks closed lower on Wednesday as investors grappled with a threat from President Donald Trump to shut down the government if Congress fails to fund a Mexico border wall. The Dow Jones Industrial Average fell 0.4% to 21,812.09 points, the S&P 500 lost 0.34% to 2,444.07 points and the Nasdaq Composite dropped 0.3% to 6,278.41 points.

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