Sensex, Nifty Close Marginally Lower; Pharma, IT Stocks Lead Losses
Domestic stock markets finished Thursday's session on a sluggish note, with the BSE Sensex closing 22 points lower. National Stock Exchange (NSE) benchmark index Nifty settled at 10,957, down 23 points. The key indices were dragged lower by a selloff witnessed in IT and pharma stocks. Losses in heavyweights such as TCS offset gains in consumer stocks including Hindustan Unilever, a day ahead of a no-confidence motion against the government. Top laggards on the 50-scrip index were Hindalco, Kotak Mahindra Bank, Larsen & Toubro, Cipla and Dr Reddy's Laboratories, finishing the session with losses of around 2-6 per cent.
On Friday, Parliament will debate a no-confidence motion tabled by opposition parties against the Prime Minister Narendra Modi's government on Wednesday, the first day of the monsoon session.
Broader Asian shares struggled to hold earlier gains made after upbeat Wall Street earnings, with MSCI's broadest index of Asia-Pacific shares outside Japan down 0.19 percent.