Nifty moving on 7800. Nifty move down to 53 point at 7858.85 and sensex move down to 178.22 point at 26290.14. Before some hours both market gain but now nifty sensex flat.
Auto components maker Rico Auto has announced the sale of its 50 percent stake in FCC Rico to its Japanese partner, FCC Company, for Rs 495 crore on Thursday. The 50:50 joint venture was for manufacturing and supplying automobile clutch assemblies.
Shares of HDFC, Maruti Suzuki, ICICI Bank, Hero Motocorp, Cipla, Sesa Sterlite and Punjab National Bank were prominent losers, falling 2-3 percent. TCS, ITC, SBI, Tata Motors, , Dr Reddy's Labs, and Bajaj Auto declined 0.9-1.7 percent.
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