Indices trim losses to end flat, Nifty at 10,818; Pharma gains

The markets trimmed their day’s losses and ended flat on Friday amid weakness in their Asian peers, that wobbled on Friday as investors braced for US tariffs against China.

The S&P BSE Sensex ended at 35,622, up 22 points while the broader Nifty50 index settled at 10,818, up 10 points.

Among sectoral indices, the Nifty Pharma index ended over 2% higher led by rise in the shares of Dr. Reddy’s Laboratories, Cipla and Piramal Enterprises.

Shares of Tata Consultancy Services (TCS) hit a new high of Rs 1,849 per share, up 3% on the BSE after the company said its board approved a proposal of buyback upto 76.19 million equity shares at price of Rs 2,100 per share through tender offer. The stock surpassed its previous high of Rs 1,840 recorded on June 14, 2018.

Manpasand Beverages was locked in lower circuit of 5% at Rs 158 on the BSE after the exchange placed shares of the company under ASM (Additional Surveillance Measure) framework effective from today, June 15, 2018. The BSE shifted Manpasand Beverages and Sai Baba Investment and Commercial Enterprises under enhanced surveillance measures where 100% margins will be applicable from June 16, 2018.
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