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Markets end flat amidst selling pressure

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Markets end flat amidst selling pressure
Markets ended the day flat after trading in the red for most of the day as domestic institutions continued to press sales.
 

Software stocks continued to keep the market steady after Infosys, Wipro and Tata Consultancy Services rose following the latter bagging an order. Also, better then expected results from Cognizant help push software stock prices higher.

PSU banking stocks which rallied substantially in the last few days lost heavy ground in trade. Syndicate Bank lost almost 5 per cent in trade, while other prominent losers were Allahabad Bank, Oriental Bank and Union Bank of India.

Bharti Airtel rallied despite reports that its CEO had sold some shares in the company. Pharma shares once again saw buying interest with notable gainers from the space being Cipla, Ranbaxy Laboratories and Sun Pharma.

The mid cap index was subdued in trade today as some banking names from the space pulled the indices lower.

Among these included names like IDBI Bank, Karnataka Bank and Vijaya Bank.

Shares in Bharat Heavy ended the day flat after the company's results matched street expectations. Large 2 wheeler player, Bajaj Auto dropped marginally after October sales came in worse then expected.

Meanwhile, most of Asia ended the day flat in the absence of any major global cues.

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