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Markets End Flat; Await GDP Data


Benchmark indices ended the day flat, after trading in a tight range for most of the day awaiting the Reserve Bank of India (RBI) Monetary Policy scheduled on Dec 1 and GDP date due later today.

Banking stocks gained ahead of the policy, though many analysts expect the Reserve Bank of India to maintain a status quo on interest rates after a sharp 50 basis points, cut in the last policy.

Markets End Flat; Await GDP Data
The Sensex ended the day higher by 17 points, while the Nifty down by 7.45 points.

Shares in ICICI Bank, Canara Bank and Bank of Baroda were the major gainers in trade. Reliance Industries ended the day lower after reports that the company may face margin contraction in the selling of its KG-D6 gas to fertilizer and LPG plants. The stock ended the day lower by 1 per cent.

Dr Reddy's ended the day flat despite a cut in the target price of the stock by a leading brokerage firm.

Midcap stocks saw good buying support with Wockhardt Pharma, Reliance Power and GMR Infra among the top gainers in trade.

SpiceJet jumped after reports that foreign airlines have shown an interest in buying a stake in the company. Top Sensex gainers in trade today were Tata Motors, Bajaj Auto, Cipla, Larsen and Toubro and Mahindra and Mahindra.

Meanwhile, markets across Asia ended the day with losses, while most of Europe was trading lower.

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