Sensex, Nifty end flat; Infy falls 4% on Citi downgrade

Updated: Wednesday, October 8, 2014, 15:29 [IST]

The Sensex and the Nifty ended the day flat as oil and gas stocks lent support while pharma and IT stocks came crashing down. Heavyweight, Infosys falling a huge 4.5 per cent, after a downgrade by Citi.

The Sensex ended the day lower by 25 points, while the Nifty closed lower by 9 points. Leading the set of gainers from the Nifty were oil and gas and banking stocks. ONGC, Reliance and State Bank of India saw major gains.

Other IT stocks also fell along with Infosys with Wipro and TCS seeing declines. PSU banking stocks saw some good recovery in trade with Bank of India, Syndicate Bank, Union Bank and Canara Bank leading gainers.

Select mid cap stocks saw huge selling pressure with Just Dial, JSW Energy and India Cements among the losers.

Shares in oil marketing companies continued to rally after a sharp fall in the price of crude oil. BPCL and HPCL were among the top gainers. In fact, HPCL touched its highest level since October 2010.

Realty stocks also did not have a good session with HDIL and Sobha Developers trading lower by three per cent.

Meanwhile, markets in Europe hit a one and half month low as global sell-off continued. The German DAX, the French CAC and the UK's FTSE all dropped lower in trade.

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