Indian Markets end on a flat note after surging to nearly 2-month high - LuvKush Finserve

Markets ended on a flat note after surging to nearly 2-month high intra-day as investors preferred to stay on the side-lines ahead of weekend events coupled with earnings announcement. Market participants are awaiting the outcome of Sunday's Upper House elections in Japan and Group of 20 finance ministers meeting on Friday and Saturday. The quarterly results of Reliance Industries also weighed on the sentiments.

The Sensex gained 21.44 points to end at 20,149.85 and the Nifty declined 8.85 points at 6,029.20 levels. G-20 meeting will be crucial in terms of any signs on orchestrated approach to the end of US money-printing, which could help defuse volatility in global markets.

Among the key sectoral indices capital goods, bankex, power, realty indices dropped while IT, autos and oil & gas sectors gained on the BSE. The gainers included counters such as TCS gaining 5%, Bajaj Auto surged 3.6%, Hero MotoCorp rose 2.6%, Tata Motors added 2.5%, GAIL gained 2.6% on the BSE.

The laggards were BHEL declined 8%, Jindal Steel dropped 2.7%, Sun Pharma dropped 3.3%, Sterlite Industrial shed 3%, ICICI Bank was down 2.6% on the BSE. The broader markets ended lower with mid-caps and small-caps dropping 0.5-0.6 per cent on the BSE.

Source : Equity Bulls

Keywords