Sensex ends lower, PowerGrid, HDFC top losers, Tomorrow stock tips

The Indian market ended on flat note after seeing high volatility in trade during the week ended day as bulls dominated control over final hours of trade, supported by major pharma companies. The BSE Sensex down 19.41 points at 35443.67, and the NSE Nifty shed 0.70 points at 10,767.70. Continued FII outflows, negative global cues with weak rupee impact weigh on investor sentiment. 

The Nifty PSU banking index rose 1.66% with Andhara Bank, Allahabad Bank, PNB and Indian bank as front-liners with gains upto over 5 percent 

Sun Pharma, Lupin, Dr Reddy’s Labs, Cipla and Gail are the top gainers on the Nifty indices, while Hindalco, PowerGrid, HDFC lose, among others. 

Shares of PSU banks surged as the meeting of State owned PSUs with FM-PSU Bank was underway in Mumbai. The Nifty PSU Bank index rose 1.7% led by Andhra Bank and Allahabad Bank. 

Meantime, the domestic currency (Rupee) declined to a fresh one-month low of 67.72 per American currency due to appreciation of the US Dollar overseas and foreign fund outflows. Further, weakness in the Indian stock market also weighed on the rupee.

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