Sensex flat Cipla surges after Q1 earnings

SENSEX-FLAT-CIPLA-SURGES-AFTER-Q1-EARNINGS:Sensex flat Cipla surges after Q1 earnings

 

Reuters Market Eye - The Sensex gains 0.07 percent, while the Nifty adds 0.13 percent. Cipla rallies 4.5 percent, having earlier hit its highest since January 2011, after posting much better-than-expected net profit in April-June.

Data showing China's manufacturing data falling to an eight-month low adds to risk aversion ahead of the Federal Reserve's meeting later in the day and the European Central Bank policy meeting this week.

Coal India slumps 3.3 percent after its agreement to supply at least 80 percent of the coal needed to fuel new power projects, was seen exposing the miner to risks to its margins.

 

Maruti Suzuki falls 0.9 percent after saying July sales rose less than expected. Mahindra & Mahindra falls 0.5 percent after its tractor sales fall short of market expectations.