Closing Bell: Sensex ends flat, Nifty fails to close above 10,900; Sun Pharma down 8%.
After trading around the flat line for a greater part of the session, equity benchmarks have ended in the green. The Nifty failed to close above 10,900, though.
Consumption, IT, metals and PSU banks were the big gainers, while the Nifty Midcap index outperformed frontline indices.
Pharmaceuticals were the big losers, with the Nifty Pharma ending over 2 percent lower.
At the close of market hours, the Sensex was up 46.70 points or 0.13% at 36241.00, while the Nifty was higher by 7.00 points or 0.06% at 10883.80. The market breadth was narrow as 1,328 shares advanced, against a decline of 1,263 shares, while 160 shares were unchanged.
Yes Bank, HUL, and Indiabulls Housing gained the most, while Sun Pharma, M&M, and HPCL were the top losers.
HEADLINES OF THE DAY
HUL approves merger with GSK Consumer, stocks gain 3-6%.
Supreme Court allows auction of Unitech properties.
The board of directors of Hindustan Unilever today approved a scheme of amalgamation between the Company and GlaxoSmithKline Consumer Healthcare Limited (GSK CH India) subject to obtaining requisite approvals from statutory authorities and shareholders.
Mahindra First Choice Services has acquired key assets of Carnation Auto.
India Ratings and Research (lnd-Ra) has affirmed the trust's long term senior debt rating at 'TND AAA' with stable outlook.
The crucial resistance for Nifty spot is now seen at 10920 and above this 11200 Support for the immediate term is now placed at 10700 next support will be 10590.
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