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India shares flat; defensives gain

Source : REUTERS
Last Updated: Tue, Feb 19, 2013 09:10 hrs
Diesel hike, QE3 boost Sensex, Nifty

The BSE index is up 0.06 percent while the 50-share NSE index is higher 0.08 percent, with weak Asian stocks weighing on investor sentiment.

Broader losses in indexes were capped by gains in underperforming defensives shares such as Hindustan Unilever and pharma companies such as Cipla Ltd.

Hindustan Unilever gains 1.4 percent after falling 10.4 percent this year as on Monday's close, while Cipla rises 2 percent after falling 8.32 percent this year.

Bharti Airtel Ltd falls 2.4 percent while Idea Cellular Ltd is down 1.4 percent.

Mobile operators fall after wireless broadband airwave holders were allowed to provide voice services by paying additional fee, a move that is seen benefiting 4G licence holder Reliance Industries Ltd, but leading to more competition in the sector.

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