Indian Markets Trade Flat; Asian Markets Gain

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Indian markets opened the day flat, after a superb rally witnessed on Tuesday, in which the Sensex soared 550 points.

Today, the markets were more subdued with the Nifty moving between gains and losses. Asian cues were mostly quiet, though Wall Street had a superb closing led by earnings from Netflix. 

Indian Markets Trade Flat; Asian Markets Gain
The Sensex was trading with gains of 21 points, while the Nifty was higher by 6 points. shares in ICICI Bank, which have had a phenomenal rally in the last few trading sessions, gave-up gains and was trading almost one per cent lower.

IT stocks too were seeing some selling pressure led by TCS and Infosys. Bharat Heavy was seeing the biggest gains in trade with the stock rallying as much as 5 per cent. Other gainers were Lupin and Sun Pharma. 

Shares in government owned IDBI Bank rallied as much as 4 per cent, after reports that there were as many as four bidders, who were prepared to buy a stake in the Bank.

Shares in Sintex Industries was seeing good buying with volumes, after reports that Prominent Plastics had acquired 7.9 lakh shares of Sintex

In other asset clases, gold was relatively steady, while crude oil prices dropped marginally. Meanwhile, the rupee was trading at 66.28 to the US dollar. Check currency rates here

Read more about: sensex, nifty
Story first published: Wednesday, October 19, 2016, 9:34 [IST]
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