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Sensex Ends Flat, Nifty Holds 10,000 Level; IT, Pharma Shares Fall

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Sensex, market cap , nifty

Mumbai: Indian equity indices ended flat on Thursday, as last hour selling in IT shares and market heavy-weight Reliance Industries, offset gains made by HDFC, HDFC Bank and Yes Bank. The Sensex closed 0.84 points higher at 32,383.30 and the Nifty settled 0.1 points lower at 10,020.55. Selling pressure also emerged amid expiry of the July series derivative contracts, analysts said. Reliance Industries closed 1.72 per cent lower at Rs. 1,594.80. Gains in the market were led by HDFC, Yes Bank, HDFC Bank, which rose 5.8 per cent, 4.31 per cent and 2.41 per cent respectively. These companies reported their earnings earlier this week. The banking sub-index of NSE, Nifty Bank closed 1.02 per cent higher.

IT and pharma shares were the worst hit in today's trade as rupee rose to a two and a half month high of 64.07 against the dollar. IT and pharma companies get a bigger pie of their revenues in the US currency. The Nifty IT and Nifty Pharma sub-indices of NSE, closed 1.58 per cent and 1.56 per cent lower respectively. Dr Reddy's Labs was the biggest loser in Nifty, down 3.21 per cent, followed by Tech Mahindra, Tata Motors, TCS and Indiabulls Housing Finance, which fell between 2.5-3.1 per cent.

Mid-cap and small -cap shares also witnessed profit booking today. The BSE Midcap and BSE Small cap indices closed 0.54 per cent and 0.51 per cent lower respectively. Market breadth was negative as 881 closed higher and 1,845 ended with losses.

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