Indian Equities end Monday on a flat note

Indian Markets opened the session on a positive note, tracking positive cuew from Asian Markets. The equities ended the session largely on a flat note. The release of an unexpectedly high August WPI inflation weighed on the sentiment, thereby paring the gains made early in the day. August WPI inflation was at 6.1% YoY vs. prior month's figure of 5.8% YoY.

NSE Nifty ended the day down by 10.05 points or 0.17% at 5840.55. Nifty hit an intraday high of 5957.25 and low of 5798.15. BSE Sensex closed the day at 19742.47, up by 9.71 points or 0.05%. Sensex hit an intraday high of 20086.43 and low of 19596.15.

Major gainers in Nifty were BPCL (+3.88%), Indusind Bank (+3.75%), Maruti Suzuki India (+3.50%), ICICI Bank (+2.98%), Bharti Airtel (+2.87%), Axis Bank (+2.59%) and Powergrid Corporation of India (+2.56%). The major losers include Ranbaxy Laboratories (-30.03%), BHEL (-5.11%), HCL Technologies (-4.95%), Ultratech Cement (-4.12%), Sesa Goa (-3.94%) and Lupin (-3.05).

Ranbaxy Laboratories was the major loser in Nifty with the stock plunging 30.03% to close at Rs. 319.90, down by Rs. 137.30 as compared to the previous close of Rs. 457.20. The company slumped on news that US FDA has issued an import alert for its Mohali facility.

The Bank Nifty ended higher at 10,368.40 (+1.85%) or 187.95 points higher as compared to previous close of 1018.045. Major gainers in Bank Nifty were Yes Bank, Indusind Bank, ICICI Bank, Axis Bank and HDFC Bank. PNB, Kotak Bank, Canara Bank and SBI were losers in Bank Nifty.

Source : Equity Bulls

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