Mkts end flat; ICICI, Maruti drag
The stock markets have ended on a flat note on Thursday as traders and investors gone off on a Christmas break.
Mumbai: The stock markets have ended on a flat note on Thursday as traders and investors gone off on a Christmas break.
Markets remained lackluster amid lack of buying interest following truncated week. Experts assume that the crude would be the best performing asset in 2016 and predict that it moves up to $60 per barrel by second quarter in 2016.
Sensex closed down 12 points at 25,839 and Nifty ended 5 points lower at 7,861. Meanwhile, broader markets have performed better with midcap and smallcap indices ended up 0.3 per cent and 0.5 per cent. On sectoral front, metals, telecom, auto and mining sectors have gained while consumer durables and banking stocks ended lower.
From banking space, as RBI highlighted the dividend distribution policy of PSU banks, IDBI Bank, Punjab National Bank, Bank of Baroda, Canara Bank, Bank of India, SBI and Union Bank of India slipped between 0.5 per cent and 1.5 per cent.
While metal companies gained following a rebound in the commodity prices as Vedanta and Hindalco closed gaining 1.6 per cent and 3.2 per cent each. However, Coal India ended flat with positive bias, as the company proposed to invest in a joint venture with Railways to procure wagons for transporting coal.
After Idea announced launch of 4G services in south India the company shares gained about 1 per cent, its rival Airtel also gained 2 per cent. From auto pack, Tata Motors, Bajaj Auto, Hero MotoCorp and M&M closed up to 1 per cent higher.
The gainers: Bharti Airtel, 1.99 per cent; GAIL, 1.12 per cent; Tata Motors, 1 per cent; Bajaj Auto 0.66 pper cent; Hero MotoCorp 0.59 per cent; TCS 0.54 per cent; ITC 0.53 per cent; Adani Ports 0.52 per cent; Asian Paint 0.43 per cent; and M&M 0.39 per cent.
The losers: ICICI Bank, 1.53 per cent; Maruti 0.88 per cent; ONGC 0.62 per cent; SBI 0.54 per cent; HDFC 0.46 per cent; and Dr Reddy's 0.32 per cent.