Taking Stock | Market ends with little change; pharma outshine, auto drags

Taking Stock | Market ends with little change; pharma outshine, auto drags

Equity market continued the winning streak for the fourth consecutive session on March 11 as the benchmark indices ended marginally higher in the volatile trade.

The market opened on a negative note amid weak global cues, but erased the losses in the initial hours and remain rangebound throughout the session. At close, the Sensex was up 85.91 points or 0.15 percent at 55,550.30, and the Nifty was up 35.60 points or 0.21 percent at 16,630.50.

"Indices remained range-bound today on worries over increasing cost pressures on corporates, rising inflation globally and slowing automobile despatches to dealers amidst supply constraints," said S Ranganathan, Head of Research at LKP securities.

"Pharma stocks bucked the trend with the healthcare index moving up and the breadth in the broader markets was encouraging."

"Sugar stocks gained post-election results and ethanol push while paper stocks were in demand post price hikes that are seen to offset input cost pressures," he added.

Cipla, BPCL, Sun Pharma, JSW Steel and IOC were among the top Nifty gainers, while losers were Nestle India, Maruti Suzuki, Tata Consumer Products, Hindalco Industries and NTPC.

On the sectoral front, Nifty Pharma index rose 2.4 percent and PSU Bank index added 1 percent. On the other hand,