For Quick Alerts
Subscribe Now  
For Quick Alerts
For Daily Alerts

Sensex ends flat; pharma stocks pounded

Sensex ends flat; pharma stocks pounded
The Nifty and the Sensex ended the day flat as heavyweights recovered following the selling pressure witnessed on Thursday. The Nifty closed the day higher by 16 points, while the Sensex gained 57 points in trade (provisional).

Pharma stocks were pounded in trade today. Reports of the U.S. Food and Drug Administration imposing an "import alert" on a plant operated by generic drugmaker Wockhardt Ltd, saw the stock plummeting for a second day in a row. Ranbaxy Laboratories also continued to trade in the red after allegations by Daiichi Sankyo on the ex-promoters of the company accusing them of hiding information on US probe into drug adulteration.

This saw a sell-off in other pharma stocks with Sun Pharma, Glenmark and Cipla down sharply.

Other Nifty losers in trade were Bharat Heavy and Maruti Suzuki. Stocks that gained from the Nifty were Tata Power, Lupin, NTPC and BPCL. Tata Steel jumped more then 4 per cent, after investors gave a thumbs-up to the company's Q4 2013 numbers.

PSU banking stocks saw some recovery in trade today, except State Bank of India which continued to fall after reporting a poor set of numbers. Other PSU banking stocks that dropped were Bank of India and Bank of Baroda.

Realty stocks ended the day with stellar gains, as Anant Raj, DB Realty and Indiabulls gained.

Meanwhile, markets in Asia ended flat to negative with the Japanese Nikkei ending in the green, while the Korean Kospi and the Indonesian indice also ended the day with gains.

Read more about: sensex nifty
Company Search
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more