Indian markets were forecast to start on a marginal flat note, and by end of trading session managed to end at a marginal flat note. The thirty scrip sensitive index closed at 32370.04, 30.47 points or 0.09% south of the day's opening.
The fed's decision of leaving interest rates unchanged was widely expected and by the time the Feds concluded the meeting, the signal of a rate hike left markets volatile. Most US markets ended on a mixed note, with Dow rising to new record closing highs, while Nasdaq closing 0.1% down to 6456.
Markets remained unsettled also owing to fresh threats from US and North Korea. US president Donald Trump threatened to "completely destroy" North Korea if it persisted with the nuclear program, and Kim Jong UN snubbed it calling it a "dog-bark".
The domestic markets were saved from further losses by gains from pharmaceutical sector. Dr. Reddy (up by 7.47%), Cipla (4.04%), Lupin (3.02%), and Sunpharma (2.59%) were the top stocks in action on the Sensex heatmap.
Dr Reddy had shared with the exchange house that it completed a USFDA audit with zero observations for a facility based at Miyapur, Hyderabad in Telangana.
On the broader side too, pharma stocks helped maintain momentum. The day's star performer was Ipca Labs with a 16.50% change or a gain of 81.10 points. Torrent Pharma too gained a 85.35 point or 6.83% gain in intra-day session on Thursday.
Sectoral index Healthcare was up by 2.74% in the day while IT stocks (up by 0.18%) and telecom (up by 0.03%) provided some cushion.
Telecom was guided after ITI (Indian Telephone Industries Limited) made an announcement. The scrip was up 20.35 points or nearly 20% after the telco shared an update that it had won a Rs 7000 crore project from the ministry of defence.
Realty (down by 2.28%) and Consumer Durables (1.43%), were the worst performers in the day.
Consumer Durables stocks such as Whirlpool (0.48%), Symphony (0.02%) were the only face-savers. The sector saw Rajesh Exports, Titan, Crompton, Bajaj Electricals, Nilkamal Industries, as well as Ttk Prestige bleeding in the red.
Ditto for Realty side, with only Unitech and Prestige ending the day on a flat margin. IB Real Estate (down by 5.41%), DLF (2.66%), Oberoi realty (2.02%), Phoenix Ltd (1.88%) ending in the red.
