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Nifty Ends Flat On F&O Expiry; Global Markets Decline
Benchmark indices ended the day flat, on the last day of expiry of the Futures and Options (F&O) segment for the March series.
Global markets were mostly lower, as some selling pressure emerged in European and Asian stocks.
The Sensex ended higher by 3 points, while the Nifty also ended higher by 3 points. Leading the set of gainers in trade today were beaten down pharma names like Sun Pharma, Cipla and Dr Reddy's.
Tata Steel, which has seen substantial gains in the last few trading sessions, ended the day lower, along with other metal names like Hindalco. Tata Steel on Wednesday had said that it was looking to sell part or its entire UK unit.
Mercator International surged 8 per cent after the company got a nod from SGX for Singapore unit stake sale.
Banking stocks ended the day mixed ahead of RBI's credit policy next week. Canara Bank gained ground, while Punjab National Bank and State Bank of India dropped.
Shares in Hindustan Zinc jumped after the company declared record dividend ever declared by a private sector company. The stock ended 5 per cent higher.
Mid cap stocks ended the day higher with the index gaining as much as 1 per cent. Gainers from the midcap space were Adani Power and NHPC.
Meanwhile, European markets were trading lower led by losses in the CAC and the German DAX.
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