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Markets end flat as Jackson Hole meet gets underway; pharma stocks lead

All that happened in Thursday's trade

SI Reporter  |  New Delhi 

Volatility is the new normal for Indian equities

Vinod Nair, Head of Research, Geojit Financial Services    Market traded in a narrow range as every upward move in the current consolidation phase is facing strong resistance due to lack of encouraging cues. Moreover, tomorrow’s Fed chair speech at Jackson Hole will be watchful, whereas the domestic market will remain shut to observe a holiday, which influenced the participants to stay on the back foot. On the other hand, healthcare stocks remained in focus on supportive USFDA grounds, which led the sector to outperform. Market breadth The breadth, indicating the overall health of the market, was strong. On the BSE, 1,432 shares declined and 1,127 shares rose. A total of 148 shares remained unchanged.  Broader markets outperform  The BSE Midcap index gained 0.8%, while the BSE Smallcap index closed 0.3% higher.  Top gainers  Top five gainers on the Nifty were all from the pharma pack and added between 2% to 4%.  Source: NSE Markets at close   The Sensex closed at 31,596, up 28 points, while the broader Nifty50 settled at 9,857, up 4 points.  Buzzing stocks IndusInd Bank, Dewan Housing Finance (DHFL), Hindustan Petroleum Corporation (HPCL), Dilip Buildcon, JSW Steel, Avenue Supermarts (D-Mart) and Vakrangee are among 13 stocks from the S&P BSE 500 index that hit their respective record highs on BSE. CLICK HERE FOR FULL REPORT 

The benchmark indices ended flat amid lack of local and global cues as caution prevailed on the day the annual Jackson Hole gathering of central bankers gets underway.

Investors focused on the central banking conference in Jackson Hole, Wyoming, where Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi were both due to speak, although new policy messages were considered unlikely.

Back home, extended gains for the second straight day on the prospects of its celebrated co-founder Nandan Nilekani returning to the company as a non-executive chairman. 

Meanwhile, domestic market will remain shut on Friday to observe Ganesh Chaturthi. 

First Published: Thu, August 24 2017. 15:33 IST
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Markets end flat as Jackson Hole meet gets underway; pharma stocks lead

All that happened in Thursday's trade

The benchmark indices ended flat amid lack of local and global cues as caution prevailed on the day the annual Jackson Hole gathering of central bankers gets underway.

Investors focused on the central banking conference in Jackson Hole, Wyoming, where Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi were both due to speak, although new policy messages were considered unlikely.

Back home, extended gains for the second straight day on the prospects of its celebrated co-founder Nandan Nilekani returning to the company as a non-executive chairman. 

Meanwhile, domestic market will remain shut on Friday to observe Ganesh Chaturthi. 

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