Markets Trade Flat; PSU Banking Stocks Fall

Business

oi-Sunil

By Sunil Fernandes

Published: Thursday, August 6, 2015, 9:33 [IST]

Benchmark indices opened the day marginally higher led by gains in shares of Infosys and Dr Reddy's. The Sensex was higher by 5 points, while the Nifty was trading lower by 3 points.

Check Sensex gainers and losers

PSU banking stocks gave up gains after the initial rally seen in the last few trading sessions with PNB, Bank of Baroda, Syndicate Bank and Canara Bank being among the losers in trade.

Claris Lifesciences which fell by a huge 6 per cent in trade on Wednesday following raids on the company's offices by IT officials was trading higher.

Tata Motors which had fallen to a 52-week low was trading with marginal gains. Canara Bank continued to fall after the company reported a poor set of numbers.

Force Motors which has been constantly rallying in the last few trading sessions was trading at the lower end of the circuit filter.

IT stocks were leading gainers after they were upgraded by a foreign brokerage house. Infosys, TCS and HCL Tech were among the gainers.

Tata Steel, ITC, HDFC and Tata Power were among the early losers in trade from the Nifty. Meanwhile, markets across Asia were trading with losses led by the Hang Sang and the Taiwan Weighted.

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