Sensex Ends Flat; Telecom & Energy Stocks Witness Selling

Indian share markets traded on a volatile note throughout the day and ended their session on a flat note. Sectoral indices ended on a mixed note with stocks in the metal sector and healthcare sector witnessing buying interest while telecom stocks and energy stocks witnessed selling pressure.

At the closing bell, the BSE Sensex stood lower by 8 points and the NSE Nifty closed up by 3 points. The BSE Mid Cap index ended the day up by 0.5% and the BSE Small Cap index ended up by 0.7%.

Asian stock markets finished on a mixed note. As of the most recent closing prices, the Hang Seng was up by 1.3% and the Shanghai Composite was up by 0.4%. The Nikkei 225 was down 0.3%.

The rupee was trading at 69.78 against the US$.

From the pharma space, Cadila Healthcare share price was in focus today as the company received final nod from the US health regulator to market Clindamycin Phosphate and Benzoyl Peroxide gel which are used in the treatment of acne.

Cipla share price was also in focus today as, according to a report by the US health regulator, the drug maker is recalling 4,800 bottles of Nevirapine extended-release tablets used for the treatment of human immunodeficiency virus (HIV) from the American market.

In the news from the IPO space, the government on Friday said that six public sector undertakings (PSUs) are set to come out with their initial public offer (IPO).

As per the announcement, the six firms to come up with IPOs are - Telecommunication Consultants (India) (TCIL), RailTel Corporation India, National Seed Corporation India (NSC), Tehri Hydro Development Corporation (THDCIL), Water & Power Consultancy Services (India) (WAPCOS) and FCI Aravali Gypsum and Minerals (India) (FAGMIL).

This comes as the Cabinet Committee on Economic Affairs has given the approval to list seven CPSE on the stock exchange through IPO. The CCEA in its meeting held on Thursday decided that six PSUs will go in for IPO.

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Disclosure: Equitymaster Agora Research Private Limited (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. ...

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