Sensex, Nifty end the day flat; ITC, HDFC lose ground

Updated: Thursday, May 8, 2014, 15:30 [IST]

Markets ended the day flat, despite strong cues from across the globe as investors turned cautious ahead of election results. The Sensex closed the day higher by 20 points, while the Nifty gained 7 points in trade.

Among the top losers from the Nifty were heavyweights, HDFC and ITC which dropped along with the likes of HeroMotor Corp and Tata Power.

Tech stocks continued to witness a subdued trend with Infosys, HCL Tech and TCS ending flat.

Among the mid cap stocks Union Bank of India lost heavy ground dropping almost 8 per cent in trade, after its non performing assets disappointed the street. Other PSU banks that dropped sharply were Canara Bank and Andhra Bank.

Simplex Projects was in the limelight today and rallied 4 per cent after the company got approval from Libya government to resume infra work. Capital goods major, Bharat Heavy Electricals rallied after the company commissioned a power plant in Oman.

Real estate stocks did not have a good day in trade with stocks like Indiabulls and Unitech seeing selling pressure.
MCX and Financial Technologies ended the day with sharp cuts after promoter of the company Jignesh Shah was arrested.
Meanwhile, markets across Asia ended the day with gains with the Japanese Nikkei and the Chinese Shanghai Composite ending the day higher.

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