Economy

Sensex, Nifty End On Flat Note After Mixed Earnings

Sensex, Nifty End On Flat Note After Mixed Earnings

The 30-share index scored a hat-trick by finishing at record highs for the third straight session.

The benchmark BSE Sensex ended the session up 10.09 points or 0.03 percent at 33,157.22 while the broader Nifty index dropped 20.75 points or 0.20 percent to finish at 10,323.05.

Besides new intra-day highs, the S&P BSE Sensex which opened at 32,995.28 points, closed at a new high of 33,042.50 points, up 435.16 points or 1.33 per cent from its previous day's close at 32,607.34 points.

Quess Corp, PNB Housing Finance, Ashok Buildcon and Sadbhav Engineering rose 1-6 percent while Jaypee Infra and Jaiprakash Associates were down 5-10 percent.

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Even global cues supported the Indian indices as major Asian and European markets ended on a positive note, barring the Nikkei index. The index hit a all-time high of 33270.62 in the opening trade. "Small and midcap stocks continued to show strength ahead of MSME's meeting with the GST council scheduled on Sunday". For the week, the Sensex recorded handsome gains of 767.26 points or 2.37 per cent - its best weekly gain since January 27.

According to Anand James, Chief Market Strategist, Geojit Financial Services: "Domestic indices remained volatile within a narrow range as a mixed bag of corporate numbers and profit booking in PSBs crippled the market's momentum". At 9:18 am, the BSE index was up 106 points at 33253 level.

The gainers were Adani Ports by 4.55 pc to Rs 432.85, Tata Motors DVR by 2.65 pc to Rs 236.65, ONGC by 2.62 pc to Rs 181.95 and Kotak Bank by 2.35 pc to Rs 1042.70.