Sensex, Nifty on a Flat Note; Indiabulls Real Estate Soars 40%

Markets settled today, 17 April 2017, marginally lower dragged by metal stocks, power and PSU stocks. The market sentiments were subdued on account of weak Asian markets.

On closing, the BSE Sensex stood lower by 48 points, while the NSE Nifty settled down 12 points. Meanwhile, the BSE Mid-Cap and Small-Cap finished the race going up 0.2% and 0.5% each.

Sun pharma Ltd fell 2.5% after the US FDA issued its observations without hurdles. Pharma stocks kept its way on a mixed note. Meantime, shares of Natco Pharma Ltd and Aarti Drugs witnessed majority of the buying activity.

Overseas, Asian equities ended mixed, with the US dollar sinking against the yen, following tensions in the Korean Peninsula. The rupee was trading at Rs 64.42 against the  Dollar in the afternoon session. Oil prices were trading at USD 52.76.

The Finance Ministry has endorsed the employees' provident fund interest rate at 8.65% for the 2016-17 financial year, which will benefit over 40 million subscribers EPFO. The fund will witness a surplus after providing 8.65 percent interest rate for the last financial year.