Sensex, Nifty trade flat; banking stocks decline

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Benchmark indices were trading flat as Asian markets were tepid and tiredness gripped the Indian markets after four successive days of gains.

The Sensex was trading with a loss of 10 points, while the Nifty was trading with a loss of 5 points.
Leading the set of losers from the Nifty were HDFC, Larsen, ICICI Bank and ONGC. Shares in Bhushan Steel were once again locked at the lower end of the circuit filter and have been down ever since the bribery scam surfaced involving a top executive at the company.

Telecom major Bharti Airtel was trading higher by 2 per cent following reports that the company is in advanced stage talks with American Tower Corporation (ATC) and Eaton Towers for selling its tower assets in several African countries.

HDFC Bank Ltd was up after reports that the Foreign Investment Promotion Board in its next meeting may take up the issue of hiking FII limit in the bank.

Top Sensex gainers in trade today were Hindalco, Sun Pharma and Infosys. PSU Banking stocks also lost ground with notable losers being Oriental Bank of Commerce (down 4 per cent), and Syndicate Bank of India and Union Bank of India both losing one per cent each.

Meanwhile, markets in Asia were trading with marginal losses with there was a shade of red in the Japanese Nikkei and the Shanghai Composite.

Read more about: sensex, nifty
Story first published: Wednesday, August 20, 2014, 9:33 [IST]
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