Markets end flat as Jackson Hole meet gets underway; pharma stocks lead
All that happened in Thursday's trade
 "Nifty Pharma")
Source: NSE
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, Infosys 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.
4:01 PM
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.
3:58 PM
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.
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.
3:57 PM
Broader markets outperform
The BSE Midcap index gained 0.8%, while the BSE Smallcap index closed 0.3% higher.
The BSE Midcap index gained 0.8%, while the BSE Smallcap index closed 0.3% higher.
3:56 PM
Top gainers
Top five gainers on the Nifty were all from the pharma pack and added between 2% to 4%.
Top five gainers on the Nifty were all from the pharma pack and added between 2% to 4%.
Source: NSE
3:35 PM
Markets at close
The Sensex closed at 31,596, up 28 points, while the broader Nifty50 settled at 9,857, up 4 points.
3:27 PM
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
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
3:26 PM
Nifty Pharma holds gains
Nifty Pharma (up 3%) leads among NSE sectoral indices thanks to gains in Cadila, Divi's Lab and Aurobindo Pharma.
Nifty Pharma (up 3%) leads among NSE sectoral indices thanks to gains in Cadila, Divi's Lab and Aurobindo Pharma.
Source: NSE
3:22 PM
Oil update
Oil prices steadied on Thursday, holding on to most of their recent gains after another fall in US crude inventories indicated a tighter market, and as a tropical storm headed towards oil producing facilities in the Gulf of Mexico. Benchmark Brent crude was down 5 cents a barrel at $52.52. US light, sweet crude was 5 cents lower at $48.36 a barrel.
3:04 PM
Markets check
At 3:00 pm, the Sensex was trading at 31,627, up 59 points, while the broader Nifty50 was ruling at 9,868, up 16 points.
2:51 PM
The task ahead for Infosys
What it needs to do to restore confidence and continue to be a preferred employer. READ IT HERE
What it needs to do to restore confidence and continue to be a preferred employer. READ IT HERE
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First Published: Aug 24 2017 | 3:33 PM IST