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Sensex, Nifty End Choppy Session Flat

Indian shares ended a choppy session on a flat note on Wednesday after the release of dismal industrial output and retail inflation data.

Industrial production remained subdued as output grew by a mere 1.2 percent in July as against 4.5 percent growth in July last year. Retail inflation in August accelerated for a second straight month to reach 3.36 percent, dampening rate cut hopes.

Markets shrugged off the data in early trade but succumbed to profit taking at higher levels as the day progressed. Mixed cues from Asia and Europe also weighed on sentiment.

The benchmark BSE Sensex hit as high as 32,348.30 before giving up most gains to end the session up 27.75 points or 0.09 percent at 32,186.41.

The broader Nifty index reached 10,131.95 during intraday before closing down 13.75 points or 0.14 percent at 10,079.30.

Tata Power and Sun Pharma jumped around 5 percent in the Nifty pack while heavyweight Reliance Industries closed up by 3.6 percent at Rs. 853.40 after hitting a record high level in intraday trade.

Dr Reddy's Laboratories soared 2.7 percent after saying its arm has started phase II trials of a cancer drug. Among the prominent decliners, state-run oil marketing firms IOC and BPCL lost 5-6 percent.

by RTT Staff Writer

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