Markets end flat again; HUL falls on royalty concerns

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Markets end flat again; HUL falls on royalty concerns
Markets ended the day flat once again, despite strength across global markets, as frequent disruption of parliament raised fears over the fate of key economic bills.

The Sensex ended the day lower by 31 points, while the Nifty closed the day lower by 11 points. Among the top losers in trade today were Hindustan Unilever, which declined on fears that there would be increase in royalty payments to the parent company.

Other top losers from the Nifty were Gail, Bhel, HDFC and Jindal Steel. Shares of NMDC dropped after the share for the government's stake sale was priced much lower than the market price.

Stocks that saw keen interest amongst buyers and topped among index gainers were Jaiprakash Associates, Mahindra and Mahindra, Reliance Infra and Bajaj Auto.

Reliance Industries too gained thus supporting the index. Technology stocks that were hammered in the last few trading sessions, saw buying at lower levels. Infosys, TCS and HCL Tech were amongst the gainers in trade today.

Among the non index stocks Kingfisher continued to be locked at the upper end of the circuit filter for the second day in a row on reports of Etihad Airways picking a stake in the airline.

Banking stocks continued to see buying interest on hopes that the Banking Regulations Bill would be cleared. Shares of Union Bank, IDBI Bank, HDFC Bank and Axis Bank were amongst the gainers in trade today.

Meanwhile, markets in Asia closed higher, while in Europe the UK's FTSE, German DAX and the French CAC continued to trade with gains.

Read more about: sensex, nifty
Story first published: Wednesday, December 12, 2012, 14:52 [IST]
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