Sensex, Nifty end flat; await policy momentum from new govt

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Sensex, Nifty end flat; await policy momentum from new govt
Sensex28,091.42Sensex Quote-87.66 [0.31%]
Nifty8,691.30Nifty Quote-17.65 [0.20%]
The Sensex and the Nifty ended the day flat with investors unwilling to take fresh positions awaiting a slew of reforms from the new government.

The Sensex ended the day higher by 6 points, while the Nifty closed the day higher by 11.65 points. Leading the set of gainers from the Nifty were HCL Tech, Ultratech Cement, Bharti Airtel, Hero Motor Corp, Grasim, Tata Power and Lupin Laboratories.

Shares in Jet Airways fell almost 9 per cent after the company reported a record set of losses for the quarter ending March 31, 2014.

ICRA was up almost 17 per cent after Moody's hiked its open offer price in the company to Rs 2400 per share from Rs 2000 to buy additional 26.5 per cent stake in company.

Top Nifty losers in trade were Gail, Tata Motors, Mahindra and Mahindra, Coal, ONGC and Jindal Steel and Power.

Mid cap stocks which have seen most of the action in the last few days, saw selective buying interest. India Cements, Oriental Bank of Commerce, Petronet LNG, Power Finance and Reliance Communications.

PSU banking stocks which have seen a lot of buying in the last few days, gave up gains to end the day lower. Stocks that fell from the space were Allahabad Bank, Syndicate Bank and Punjab National Bank.

Meanwhile, most of the Asian markets ended the day higher after the US S&P 500 closed at record highs following robust economic data. European markets were trading flat at the time Indian markets closed for trade.

Story first published: Wednesday, May 28, 2014, 14:48 [IST]
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