After opening above the previous trading day’s close over 1%, Indian equity market remained choppy throughout the trading session and ended the day on flat note. Sensex ended the day at 19,742.47, up by just 9.71 points while Nifty ended in negative territory at 5,835.05, down by 15 points.
WPI inflation jumps to 6-month high at 6.10% in August vs. 5.79% of July, led by rising food and fuel prices. June inflation was revised higher to 5.16% from 4.86% reported earlier. All eyes are now on RBI's September 20 monetary policy.
Ranbaxy plunged after the US Food and Drug Administration (USFDA) issued import alert on the drug company's Mohali Unit. After the problems at Paonta Sahib and Dewas, the USFDA now has a problem per se with its unit at Mohali. There is more clarity yet required from the company itself in terms of what will happen to all of their big ticket drugs, which were expected to be launched especially in Q4 CY13.
Among the sectoral indices Bank Nifty (1.90%), CNX Finance (1.29%) and CNX Consumption (0.49%) were the top gainers while CNX Pharma (-2.48%) and CNX Realty (-2.33%) were top losers of the day.
Out of 50 stocks of Nifty 18 stocks ended in positive terrain and 32 stocks in negative.
Top 5 Nifty gainers: BPCL (3.88%), IndusInd Bank (3.75%), Maruti (3.50%), ICICI Bank (2.98%) and Bharti Airtel (2.87%) were top gainers.
Top 5 Nifty losers: Ranbaxy (-30.03%), BHEL (-5.11%), HCL (-4.95%), Ultra Cement (-4.12%) and SesaGoa (-3.94%) were top Nifty losers.
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