Markets end flat; parliament impasse weighs

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Markets end flat; parliament impasse weighs
Markets ended the day flat as parliament disruption left investors worried on the fate of crucial economic bills, particularly those related to FDI.

The Sensex ended the day lower by 10 points, while the Nifty closed lower by 1 point. Shares of Hindustan Copper was amongst the worst hit in trade today after the government fixed the base price for stake sale in the company way below the market price. The shares ended the day lower by almost 20%.

Ranbaxy dropped following reports that the company was calling Astrovastatin from the US markets.

Other losers from the Nifty stocks included Gail, Jaiprakash Associates, Cipla, ITC, BPCL and Grasim.

Banking stocks also witnessed selling pressure in trade today with HDFC Bank, ICICI Bank, State Bank of India and Bank of Baroda amongst the losers. Software stocks also found sellers with Wipro, TCS and Infosys dragging the benchmark indices lower.

Nifty stocks that ended the day with gains were Asian Paints, HCL Tech, Bhel and Hero Motor Corp.

Meanwhile, Asian shares closed the day with gains, while Europe was trading lower. Indian markets are expected to be volatile and the deadlock in parliament could prevent the markets from heading higher.

GoodReturns.in

Read more about: sensex, nifty
Story first published: Friday, November 23, 2012, 14:45 [IST]
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