Sensex, Nifty End Flat For Second Day; FMCG Stocks Gain, Metals Drag
Closing Bell: Another Subdued Session
Consolidation continued in the Indian equity markets, with the benchmark indices ending little changed for the second straight day.
The S&P BSE Sensex ended 0.25% or 90 points higher at 38,067 while the NSE Nifty 50 index ended 0.2% higher at 11,247. Bharat Petroleum was the top laggard on the Nifty 50 index after seeing yet another extension in the deadline to submit the EoIs for the company's strategic divestment. Shares ended 9% lower.
Private Banks had a volatile session of trade. The Nifty Bank index eventually ended flat, courtesy gains in HDFC Bank, after being down as much as 1.2% during the day. The PSU Bank index continued to declining, ending 1% lower.
The top laggard in today's session was the Metal index, which was the top gainer in Tuesday's trading session. The index ended with losses of over 2%.
FMCG stocks outperformed, with gains led by Hindustan Unilever, Britannia and Nestle India. The index ended with gains of 1.3%.
Broader markets too ended flat. The Midcap index closed unchanged while the smallcap index saw modest declines of 0.3%.
India Volatility Index ended 0.4% lower at 19.69.
847 stocks on the National Stock Exchange ended with gains while 968 posted losses.