Closing Bell: Sensex, Nifty end flat as losses in FMCG, pharma neutralise gains of banks, metal stocks

Closing Bell: Indian frontline indices ended flat on Wednesday though with a negative bias. This was the second successive loss for S&P BSE Sensex and NSE Nifty50, this week. While the former ended at 60,105.50, down 10 points or 0.02 per cent, the broader market Nifty50 closed the day 17,895.70, lower by 18.45 points or 0.10 per cent. Banking gauge Nifty Bank ended in the green at 42,232.70 with nearly 220 points 0r 0.52 per cent lead.

 Source: NSE

In the 50-stock Nifty50, 18 stocks advanced with Hindalco Industries, BPCL, Sun Pharmaceuticals, UltraTech Cement Company and HDFC Bank while the top losers were Bharti Airtel, Cipla, Divi's Laboratories, Apollo Hospitals and Hindustan Unilever (HUL). 

Out of 15 Nifty sectoral indices, 7 declined with Nifty FMCG ending up as a worst performer. It was followed by, Nifty Healthcare Index and Nifty Auto. The top performers for today were Nifty Metal, Nifty Bank and Nifty Financial Services. However, PSU bank stock witnessed drubbing at the hands of the investors.

In the broader markets, selling pressure was seen in most stocks. Nifty Mid Cap 100 and Nifty Small Cap 100 were finished with losses. 

Rupee gains 17 paise to close at 81.57 (provisional) against US dollar, PTI reported.   

"The Rupee opened flat and USD was continuously  sold on all  uptics as Foreign Investors sold USD on all uptics to the dollar," Anil Kumar Bhansali, Head of Treasury at Finrex Treasury Advisors LLP said.

"It was well supported around 81.60 levels as a major bank and defence was buying USD but the same got sold of as FPI flows and fixing saw good selling once it approached 81.80 which was the high for the day. Later 81.60 was broken and rupee made a high of 81.51," Bhansali said. "81.40 is next support breach of which could take it down to 80.50 which is a major support," he further said.

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