Mumbai: Major equity benchmarks consolidated in trade today and closed flat shrugging off 41-month low April WPI inflation number of 4.89 per cent, way below RBI's comfort zone. The Sensex closed at 19722.2 up 30.62 points and the Nifty ended at 5995.40, up 14.95 points. About 1162 shares advanced, 1206 shares declined and 146 shares were unchanged.
Key gainers in the Nifty were Ranbaxy Labs, Bank of Baroda, Sun Pharma, Power Grid and GAIL, up over 1.5 per cent each. Laggards included Dr Reddy's Labs, Bajaj Auto, HCL Tech, BHEL and Reliance Industries, down between 0.5 to 2.5 per cent.
Rate sensitive stocks of banks, realty and auto also ended flat since the Reserve Bank of India has clearly signaled there is no room for further easing in monetary policy. Ranbaxy Labs recouped its morning losses and closed in green despite the company agreed to pay USD 500 million as settlement against the felony charges related to drug safety.
Sun Pharma Advanced Research Company, a research division of parent company Sun Pharma surged 20 per cent after the company reported net profit of Rs 44 crore against loss of Rs 21.6 crore in the same quarter last year. India has lifted ban on futures trade in Guar Seed and Guar Gum. Vikas WSP, India's foremost guar gum powder manufacturer was locked at 20 per cent upper circuit.
HT Media lost close to 10 per cent after the company's quarterly earnings missed street expectations. The topline and bottomline registered a fall of 8.5 per cent and 25 per cent respectively. Pidilite Industries, Castrol India, Eicher Motors, Mphasis, Zydus Wellness, Page Industries and Sun Pharma Advanced were some of the stocks that touched 52-week high on Tuesday.
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