Indian benchmark indices end flat on Thursday despite reaching record intraday highs
On Thursday, JDU chief Nitish Kumar was reinstalled as the chief minister of Bihar, this time with support from the BJP.
According to media reports, the new equation in Bihar and the Federa Reserve boosted Nifty but it was offset by sell-off in the last hour of trade due to F&O expiry-led volatility.
The BSE Sensex fell 290 points from day's high, to close with only 0.84 points gains at 32,383.30. The index hit an intraday all-time high of 32,672.66 on Thursday.
On Thursday, leading automobile company Maruti Suzuki India declared their results for the quarter ending June 30, 2017.
According to media reports, the company's profit failed to meet analysts' expectations beaten down by one-time dealer compensation due to Goods and Services Tax (GST) implementation. The company's profit in the reported quarter grew by 4.4 percent to Rs 1,556.4 crore compared with the same quarter a year ago.
Key gainers on Thursday included HDFC, HDFC Bank, Asian Paints, Yes Bank, IndusInd Bank, SBI, Zee Entertainment and HUL while Dr Reddy's Labs, TCS, Tech Mahindra, Tata Motors, Bharti Airtel and Infosys declined.
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