Sensex, Nifty End Little Changed; Zee Entertainment Gains 14%
Closing Bell: A Subdued Session
Indian equity markets ended off the highest point of the day, ending a rangebound session on a flat note.
The S&P BSE Sensex ended 0.2% at 38,614 while the NSE Nifty 50 index ended 0.3% higher at 11,419. This was the third straight day of gains for the benchmark indices.
Among the sectoral indices, the Nifty Media index ended as the top performer with gains of 5.4%, courtesy a 14% surge in Zee Entertainment.
The Nifty PSU Bank (up 2.4%) and Nifty Realty (up 1.3%) were the other sectoral gainers.
Nifty FMCG (down 0.4%), Nifty I.T. (down 0.3%) and Nifty Pharma (down 0.4%) were the sectoral laggards in today's session. The Nifty Pharma ended lower for the third straight session and has now declined in six out of the last seven trading sessions.
Broader markets outperformed in today's session with the midcap index ending 0.6% higher while the smallcap index ended with gains of 1.24%.
The India Volatility Index ended 2.7% lower, below the mark of 20 at 19.88. This was the lowest closing level for the index in six months.
Market breadth remained in favour of the gainers. 1,217 stocks on the NSE ended with gains while 612 declined.