Indian Benchmark indices ended the week on a flat note as investors digest macroeconomic data from around the world and await definitive global cues. The BSE Sensex shed 19.33 points or 0.06% to end the session at 31,056.40 points, while NSE Nifty closed 10 points or 0.10% higher at 9,588.05 points.
BSE Mid-cap index gained 25.56 points or 0.17% to end at 14,807.33 points, while the BSE Small-cap index gained 21.35 points or 0.14 per cent to close at 15,667.24 points.
Tata Motors DVR, Kotak Mahindra Bank, ACC, UltraTech Cement and Tata Motors were the top gainers on Nifty, while Lupin, Sun Pharma, Cipla, Wipro and Indiabulls Housing Finance were the top losers on the 50-share index.
Nifty Pharma Index lost 1.76% with all but two of the constituents ending lower. Lupin closed 4.38% down; Sun Pharma 2.74%; Cipla 2.62%; Divi’s Laboratories 2.26%; Piramal Enterprises 1.54%; Cadila Healthcare 1.17%; Dr Reddy’s Laboratories 0.76% and Glaxo SmithKline 0.39% respectively.
Reliance Industries and BP Plc yesterday announced plans to jointly make a fresh investment of Rs 40,000 crore in the KG-D6 block of Krishna Godavari basin.
Tejas Networks IPO has been subscribed 186.74% at the close of bidding. Of their respective quota of reserved shares, institutional investors bid 216.35%, while the retail investors bid an impressive 302.18% of theirs’. However, non-institutional investors bid a mere 48.23% of their quota. The IPO is worth up to Rs 776 crore, out of which the company plans to raise up to Rs 450 crore through a fresh issue of equity shares, while the existing stakeholders would get the rest via an offer for sale.
In global events, Bank of England held interest rates steady at 0.25 per cent. However, the unexpectedly tight 5-3 vote did give rise to questions about monetary policy.