Sensex up 41 points, looks headed for flat close

A few counters witnessed some strong buying in late afternoon trade, resulting in the Sensex gaining about 85 points over its previous close, but with stocks finding it tough to hold at higher levels, the market appears headed for somewhat flat close today.Asian markets ended mostly lower today and major European markets are quite subdued. Back home, the mood remains cautious with investors looking ahead to exit polls results, due later in the day.The Sensex, which rose to 28,986.72, is now at 28,943.22, up 41.28 points or 0.14% from its previous close. The Nifty is up 6.20 points or 0.07% at 8930.50, coming off the day’s high of 8945.80.Dr Reddy’s Laboratories is down 4.8% due to sustained selling at the counter following USFDA issuing 13 observations after inspecting the company’s Duvvuda oncology formulation facility located at Vishakapatnam Special Economic Zone.GAIL India is down 2.2%. Wipro, Adani Ports and ONGC are down 1.5% – 2%. Idea Cellular, Bharti Infratel, BPCL, Tech Mahindra, Aurobindo Pharma and Coal India are also notably lower.Maruti Suzuki, State Bank of India, Axis Bank, Asian Paints, Ambuja Cements, Tata Motors, Hero Motocorp, NTPC, Grasim Industries, Sun Pharmaceutical Industries, ACC, UltraTech Cement and HDFC are up 0.5% – 1.7%.

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