Sensex ends flat, Nifty at 7977; banks climb, FMCG weak

The market ended flat while the Nifty could not manage to climb 8000-mark. The 50-share index closed down 4.80 points or 0.06 percent at 7977.10 while the Sensex fell 25.93 points at 26192.98. About 1578 shares have advanced, 1046 shares declined, and 146 shares are unchanged.

Reliance, M&M, Dr Reddy's Labs, ITC and Bharti Airtel were major losers while Hindalco, Maruti, Axis Bank and SBI were top gainers in the Sensex.

BSE Power, Bankex and Capital Goods indices were among the top gainers while FMCG, Oil and Gas, Consumer Durables were the top losers.

Among the index heavyweights, Reliance Industries, ITC and HDFC were down 0.9-1.7% each.

FMCG giant ITC announced doubling its investment in Punjab from Rs 700 crore to Rs 1,400 crore.

Other Sensex losers include, HUL and pharma majors Lupin, Sun Pharma and Cipla.

Among other shares, Shares of L&T Finance Holdings were down over 3% at Rs 66.40 on concerns of expansion in equity capital after the board approved issue of shares and convertible warrants to Bain Capital.

Shares of T D Power Systems were up nearly 3% at Rs 296 on the Bombay Stock Exchange after the company announced that it has received an order from a large multinational company in Europe.

Global markets are a mixed bag today. Asian stocks skid on growth fears but China bucked the trend. Shanghai closed with almost 2 percent gains. In Europe, France's CAC and Britain's FTSE gained over 0.3 percent while Germany's DAX declined 0.7 percent.

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