Sensex ends flat; await Parliament logjam resolution
Nov 23 2012 , Mumbai
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'.