Sensex closes flat; GMR up 4% as govt backs company

The Indian equity markets were flat as investors waited for the outcome of the FDI in multibrand retail vote which begins at 5 pm today.

Sensex closed at 19392, 0.23 percent up and the Nifty closed at 5901, 0.19 percent up.

The HSBC services Purchasing Managers' Index was released today, which based on a survey of around 400 companies, fell to 52.1 in November from October's 53.8, to register a 13-month low.

gold importers in India booked deals for the peak wedding season. Reuters

The Index showed that India's services sector grew at its weakest pace in over a year during November due to slowing orders, a survey showed on Wednesday, suggesting an economy limping towards its slowest full-year growth in a decade was struggling to refind momentum.

In addition, gold importers in India booked deals for the peak wedding season as prices stayed near their lowest level in a month, eyeing the key parliament vote on entry of foreign super markets and its impact on the rupee.

Stocks in news

Firstsource closed up 0.75 percent after the company said that it has repaid FCCB worth $237 million

RIL closed up 0.87 percent after the Exim Bank approved a $2 billion loan to the company. RIL also sold 25% stake in Yemen oil block for $90 million.

Infosys closed down 1.93 percent after reports that Facebook will replace the company on the Nasdaq 100 list.

State Bank of India shares closed up xx percent. Diwakar Gupta, managing director and chief financial officer at SBI told reporters on Wednesday that the Indian government is looking to infuse Rs 4000 crore in the bank.

Tata Motors shares closed up 2.3 percent, buoyed by a Morgan Stanley report which maintained its 'overweight' rating and is optimistic of a strong rebound in sales in Jan-March quarter.

GMR Infra closed 4 percent up after the Indian government told Maldives that company's legal processes should take their own course.

Sterlite Industries, Sesa Goa, Allahabad Bank were among top Sensex gainers, while United Breweries, Strides Arcolab and Tata Power were among top Sensex losers.

Updated Date: Dec 20, 2014 20:30 PM

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