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Indices end flat, Sensex falls 37 pts; private banks, pharma stocks decline
All that happened in the markets today
The domestic stock market ended Wednesday's rangebound session on a flat note with a negative bias, amid selling in private banks, FMCG, pharma, and metal counters. Further, weak global cues, too, weighed on investor sentiment.
The S&P BSE Sensex ended 37 points or 0.1 per cent lower at 38,370 levels. Reliance Industries (RIL), HDFC Bank, TCS, and HUL were among the major contributors to the index's loss. On the other hand, HCL Tech, SBI, and Infosys lent support to the market.
NSE's Nifty ended at 11,308, down 14 points or 0.12 per cent. Volatility index, India VIX, dropped over 2 per cent to 20.89 levels.
The trend in the broader market also remained subdued. For instance, the S&P BSE MidCap index ended 0.26 per cent lower at 14,355 levels while the S&P BSE SmallCap index fell 0.02 per cent to end at 13,834 points.
Among sectoral indices, Nifty Pharma declined the most - down 1.5 per cent to 11,590. The Nifty Metal index fell 0.67 per cent while Nifty FMCG ended at 31,636.70, down, 0.41 per cent. Nifty PSU Bank, on the other hand, rallied 2.7 per cent to 1,477.70 levels.
Europe’s stock markets were steady Wednesday after doubts emerged about fresh US stimulus, while it was shaping up to be another wild day for gold and silver and Turkey’s troubled lira.
In Asia, Chinese shares fell for a second straight session after global market sentiment soured on the prospect of a swift US stimulus boost and as domestic data showed softer growth in bank lending.
In commodities, oil prices edged up after a bigger-than-expected drop in US inventories. Gold swung from being down 2 per cent to being up 1.7 per cent at $1,935 per ounce, a day after it suffered its biggest daily fall in seven years.
(With inputs from Reuters)