Sensex ends flat; await Parliament logjam resolution

The BSE Sensex provisionally ended lower on Friday in a volatile session, after both the houses of Parliament were adjourned on the second day of the winter session, raising questions about proposed legislation and as caution prevails ahead of an all-party meeting on Monday.

Recent outperformers such as ITC fell 0.8 per cent after rising 3 per cent in previous two sessions

Broader losses were capped by gains in Reliance Industries Ltd that rose 0.9 per cent.

The BSE index provisionally fell 0.06 per cent, and the 50-share NSE index ended down 0.08 per cent.

Markets @ 11.30 AM (Reuters)

The BSE Sensex and the Nifty are flat, as investors wait for announcements regarding proposed bills to open up the insurance, pension and banking sectors in the ongoing winter session of parliament.

On Thursday India approved a new drug pricing policy designed to increase the number of drugs deemed essential that are subject to price caps, a move that will curtail prices.

GlaxoSmithKline Pharmaceuticals down 1.2 per cent, Ranbaxy Laboratories falls 0.3 per cent.

The NSE bank index that gained 1.78 percent outperforming the 50 share NSE index in the last three trading sessions was trading lower, ICICI Bank down 0.4 percent.

Hindustan Copper Ltd down 12.46 percent, after government set the base price at 155 rupees a share for its 4 percents stake sale, way below Thursday's closing price of Rs 266.15.

Markets @ 09.00 AM (PTI)

Rising for the third day in a row, the BSE benchmark Sensex gained over 32 points in early trade today on sustained buying by funds and retailers on hopes of economic reforms amid a firming trend in Asian region.

The 30-share barometer, which had gained over 188 points in the previous two sessions, added 32.17 points, or 0.17 per cent, to 18,549.51 with stocks of power, capital goods, metal and oil and gas sectors extending support.

Similarly, the wide-based National Stock Exchange index Nifty moved up by 6.80 points, or 0.12 per cent, to 5,634.55.

Brokers said trading sentiment remained firm on continued buying by funds and retail investors largely on hopes that the government will take more reform measures amid a firming trend in the Asian region in line with overnight gains on the European markets.

Stocks of Hindustan Copper, which had rallied by 11.33 per cent in yesterday's trade after the government announced plans to divest 4 per cent equity in the company, came under selling pressure and plunged over 16 per cent to Rs 223.55.

In the Asian region, Hong Kong's Hang Seng rose by 0.40 per cent, while Japanese markets closed for a public holiday. The US markets remained closed yesterday for 'Thanksgiving'.

EDITORIAL OF THE DAY

  • Census shows urgent steps are needed to dispel rural despair

    The much delayed Socio-Economic and Caste Census, 2011, has finally seen the light of day, and going by its conclusions, it couldn’t have come a day

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Urs Schoettli

Economic integration in east Asia

As trade agreements within a global framework have become increasingly ...

Rajgopal Nidamboor

Up the ante of your conscious existence

It sounds cryptic, but is not as complex as it ...

Gautam Gupta

The ‘fake’ issue needs to be taken seriously

E-commerce players are witnessing unbelievable growth globally. Competition is increasing ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture