-Indian markets closed flat on Thursday ahead of the US consumer inflation report due later in the day
-The indices were dragged by IT stocks
-Sensex declined 65 points and closed at 66,408.
-Nifty dropped 17 points to end at 19,794.
Gainers and losers of the day
Infosys, Tech Mahindra, TCS, and HCL Tech were the top laggards, falling 1.9-2.8%.
Other losers were – Bajaj Finance, Wipro, Nestle, Kotal Bank, and SBI. Maruti, Power Grid, NTPC, and M&M were the gainers of the day.
Stocks in news
-Singer India closed 10% higher after value investor Porinju Veliyath’s name appeared in the latest shareholding data of the firm.
-Zomato shares also closed higher and touched a new 52-week high of Rs 113.25 in today’s intraday trade. ICICI Securities raised the target price to Rs 160 from Rs 120 earlier.
SECTOR-WISE PERFORMANCE
Nifty IT was down 1.67%, led by Infosys, TCS, HCL Tech and Wipro.
Nifty Auto rose 0.78%, led by Bosch, TVS Motor, Maruti and Bajaj Auto.
In the broader market, Nifty Midcap100 gained 0.17%, and Smallcap100 advanced 0.65%.
World markets
World shares rose and the dollar and bond market borrowing costs held steady ahead of US inflation data. Japan’s Nikkei 225 rose 1.72%, Hong Kong’s Hang Seng was up 1.89%, Kospi was up 1.2% and Shanghai Composite was up 0.93%.
OIL & RUPEE
Oil prices rose about 1% reversing earlier falls, on expectations that U.S. interest rates had peaked, but a lower demand growth forecast for next year from the International Energy Agency and higher U.S. inventories limited further gains. The Indian rupee ended marginally lower at 83.24 per dollar.
