Indices End Flat With A Negative Bias; Financials Drag, Broader Markets Outperform

Indices after starting with modest gains in morning session saw high volatility during mid-week trading session. At the close, Sensex ended lower by 0.04 percent or 20 pts at 51309, while Nifty dropped by 0.02 percent to 15106 levels. Financials however saw weakness with Nifty Bank seeing a decline of 0.44% towards the close of the session. However, mid-cap and small-caps outperformed with Nifty Midcap 100 up 0.9%.

Among top gainers in today's deal have been stocks SBI Life Insurance, Bajaj Finserv, Cipla, M&M and HDFC Life, while laggards include Eicher Motors, Bharti Airtel, HDFC Bank, Tata Steel and Britannia.

Spicejet for the December quarter reported a net loss of Rs. 67 crore versus Rs. 78 crore profit YoY. The scrip ended at Rs. 87.9, over 1% higher on the NSE.

Page Industries is another stock that cheered its Q3 earnings with PAT rising 77 percent YoY. The scrip hit a fresh 52-week high in today's session of Rs. 32,205.65 per share on the NSE, but settled higher with gains of over 5% at Rs. 31,933.7.

Meanwhile, European markets too traded mixed with German DAX down in trade, while there were gains seen on FTSE and French CAC.

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