Sensex, Nifty trade flat; metal stocks weak

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Sensex, Nifty trade flat; metal stocks weak
Markets were trading flat in early morning trades with the Sensex trading with gains of 5 points, while the Nifty was trading with a gain of 10 points. Leading the set of gainers from the Nifty were IDFC, ITC and Mahindra and Mahindra.

Stocks that lost ground in trade were Bharti Airtel, Cipla and Larsen and Toubro. Reliance Industries was trading higher despite the Oil Ministry considering ordering Reliance Industries to stop selling KG-D6 crude oil to its Jamnagar refinery.

Tata Motors was higher by one per cent on reports that the company plans to launch two vehicles every year till 2020 as the company looks to ramp up its product portfolio.

PSU banking stocks showed some recovery in trade after following on Wednesday. Oriental bank of Commerce, whose officials were involved in a scam saw its stock recover marginally after a drop of more than three per cent on Thursday.

Mid cap stocks also gained one per cent in trade with notable gainers being Canara Bank and Aurobindo Pharma.

Deepak Fertlizers was trading higher after the Competition Commission approved the company's proposed additional stake buy in Vijay Mallya group firm Mangalore Chemicals and Fertilizers.

Meanwhile, markets across Asia were trading with gains led by The Japanese Nikkei and the Shanghai Composite.

Read more about: sensex, nifty
Story first published: Thursday, August 21, 2014, 9:30 [IST]
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