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Markets pare gains to end flat, Nifty settles below 10,100; OMCs weigh

SI Reporter/Mumbai 13 Sep 17 | 03:30 PM

The benchmark indices pared morning gains in the last leg of the session, to end flat, dragged by losses in metal, realty, auto, FMCG and oil & gas sectors. The broader markets also underpeformed the frontline indices.

Oil marketing companies (OMCs) such as BPCL, HPCL and IOC tanked up to 8% following news reports that the OMCs may be told to absorb increase in oil prices due to inflation risks. 

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Globally, Asian markets inched up to a 10-year high, cheered by record highs on Wall Street following Apple's new launches and as North Korea fears eased.

Dismal macroeconomic data as the Index of Industrial Production (IIP) rose only marginally in July and consumer price index (CPI)-based inflation surged to five-month high in August also affected the sentiment.

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Company Price Gain (%)
Wipro294.051.00
Coal India253.900.12

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