Markets end flat as Jackson Hole meet gets underway; pharma stocks lead

All that happened in Thursday's trade

4:01 PM

Vinod Nair, Head of Research, Geojit Financial Services 

 

Market traded in a narrow range as every upward move in the current consolidation phase is facing strong resistance due to lack of encouraging cues. Moreover, tomorrow’s Fed chair speech at Jackson Hole will be watchful, whereas the domestic market will remain shut to observe a holiday, which influenced the participants to stay on the back foot. On the other hand, healthcare stocks remained in focus on supportive USFDA grounds, which led the sector to outperform.

3:58 PM

Market breadth

The breadth, indicating the overall health of the market, was strong. On the BSE, 1,432 shares declined and 1,127 shares rose. A total of 148 shares remained unchanged. 

3:57 PM

Broader markets outperform 

The BSE Midcap index gained 0.8%, while the BSE Smallcap index closed 0.3% higher. 

3:56 PM

Top gainers 

Top five gainers on the Nifty were all from the pharma pack and added between 2% to 4%. 

Source: NSE

3:35 PM

Markets at close

 

The Sensex closed at 31,596, up 28 points, while the broader Nifty50 settled at 9,857, up 4 points. 

3:27 PM

Buzzing stocks

IndusInd Bank, Dewan Housing Finance (DHFL), Hindustan Petroleum Corporation (HPCL), Dilip Buildcon, JSW Steel, Avenue Supermarts (D-Mart) and Vakrangee are among 13 stocks from the S&P BSE 500 index that hit their respective record highs on BSE. CLICK HERE FOR FULL REPORT 

3:26 PM

Nifty Pharma holds gains

Nifty Pharma (up 3%) leads among NSE sectoral indices thanks to gains in Cadila, Divi's Lab and Aurobindo Pharma. 

Source: NSE

3:22 PM

Oil update

 

Oil prices steadied on Thursday, holding on to most of their recent gains after another fall in US crude inventories indicated a tighter market, and as a tropical storm headed towards oil producing facilities in the Gulf of Mexico. Benchmark Brent crude was down 5 cents a barrel at $52.52. US light, sweet crude was 5 cents lower at $48.36 a barrel.

3:04 PM

Markets check

 

At 3:00 pm, the Sensex was trading at 31,627, up 59 points, while the broader Nifty50 was ruling at 9,868, up 16 points. 

2:51 PM

The task ahead for Infosys

What it needs to do to restore confidence and continue to be a preferred employer. READ IT HERE 

2:17 PM

Buzzing stock

Aptech hit a nine-year high of Rs 306, up 11% on BSE in intra-day trade, extending its 2-day rally on back of heavy volumes. The stock is trading at its highest level since January 21, 2008. READ MORE

1:55 PM

Europe check

Europeans stocks opened higher as investors await comments on monetary policy from the Jackson Hole meeting.

 

The pan-European Stoxx 600 was 0.32% higher in early deals with most sectors moving in positive territory.

1:37 PM

Infosys board members to resign for Nandan Nilekani's return: Report

 

Majority of Infosys board members have offered to resign in a shakeout at India's second-largest software company that will likely see its celebrated co-founder Nandan Nilekani return a decade after he quit, according to a report by television channel ET Now.

 

Nilekani is said to have asked for a clean board before he takes over at Infosys.

 

The board members - except for Punita Sinha and Roopa Kudva- are likely to resign, said the report, which could not be independently confirmed. 

 

Click here for full report

1:18 PM

Market Check

Equity benchmarks continued to trade in a tight range in afternoon due to lack of triggers at domestic as well as global level.

 

At 1:18 pm, the BSE Sensex was trading at 31,630, up 62 points while the Nifty50 was ruling at 9,873, up 20 points

12:58 PM

BUZZING STOCK

Shares of Indian Hume Pipe Company advanced nearly 4% intraday as it has received order worth Rs 100.46 crore.

 

The order includes the augmentation of water supply scheme part-II-distribution system, Bilaspur (Chattisgarh) under AMRUT mission.