Market finished flat, Updates and News

Markets finished flat as caution prevailed on the bourses ahead of the RBI monetary policy review due tomorrow dragged by financials. Weakness in healthcare shares also weighed on market with Sun Pharma contributing the most to the decline on weak earnings post the acquisition of Ranbaxy. The Sensex gained 21 points to end at 27,849 and the Nifty closed flat at 8,433 levels. Meanwhile, the Q4 GDP data released on Friday ensured that India became the world’s fastest growing economy, outpacing China, with a growth of 7.5% in the March quarter and the HSBC report stated that India’s manufacturing PMI increased to a four-month high of 52.6 in May from 51.3 in April, with a reading above 50 signaling expansion.