It was a day of consolidation on Dalal Street with benchmark indices ending flat. The Sensex was down 28.29 points at 27932.90, and the Nifty slipped 5.55 points at 8454.10. About 1547 shares advanced, 1295 shares declined, and 150 shares were unchanged. Tata Motors fell over 4 percent while Hindalco, SBI, Vedanta and Reliance were among laggards. Coal India, HUL, Hero MotoCorp, Infosys and Lupin were other gainers.
The Indian rupee was trading marginally higher at 63.47 against the US dollar compared to the previous close of 63.51.
The rising CPI numbers, which could put hold on the easing of monetary policy by the RBI, have put pressure on rate sensitive stocks. Among the banking shares, SBI lost 1.8% while HDFC twins and ICICI bank dropped between 0.3-0.7%.
Tata Motors plunged over 4% as its luxury arm- Jaguar land Rover (JLR) reduced its sales in China on concerns of a slowdown in the Chinese economy.
Index heavyweight ITC finished lower by 0.8% on the back of an increase in the inflation numbers. HUL shares however finished with 1.9% gains.
Dr Reddy’s Laboratories gained 0.5% after the drug manufacturer announced the launch of Memantine hydrochloride tablets of 5 mg and 10 mg.
Aurobindo Pharma ended flat after intraday gains of over 1% on the BSE. The company received final approval from the US Food and Drug Administration (UFDA) to produce and sell Flecainide Acetate Tablets -- used for regulating heart rate -- in the American market.
On the flip side, Coal India was the highest gainer on the Sensex as it surged 3.3% while Infosys, Wipro, Lupin, Hero Motocorp, and BHEL finished higher between 1-2%
Among other shares, shares of India Cements fell 3.7% on the BSE after the Supreme Court appointed panel suspended Chennai Super Kings (CSK), a team owned by India Cements, for two years from playing in the Indian Premier League (IPL) on charges of fixing.
Shares of DCB Bank dipped 7% on the BSE, on the back of a disappointing first quarter. The private sector lender reported an increase in the gross net performing assets (NPA) to 1.96% in the June 2015 quarter (Q1) as against 1.78% at the end of June 2014 quarter.
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