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Sensex, Nifty End Flat; TCS, Infosys Fall A Day Ahead Q4 Earnings

Tata Consultancy Services and Infosys came under selling pressure a day ahead of March quarter earnings.

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Sensex, Nifty End Flat; TCS, Infosys Fall A Day Ahead Q4 Earnings

The S&P BSE Sensex and NSE Nifty 50 Indexes ended on a flat note. Gains in Reliance Industries, ITC, HDFC Bank, Hindustan Unilever and State Bank of India were offset by losses in Tata Consultancy Services and Infosys which came under selling pressure a day ahead of March quarter earnings. Selling pressure in ICICI Bank, Axis Bank, Vedanta and NTPC also capped the up move in the benchmarks. For most part of the day, the domestic equity benchmarks fluctuated between gains and losses and the S&P BSE Sensex swung at least 10 times between the positive and negative territory.

The S&P BSE Sensex rose 22 points or 0.06 per cent to close at 38,607 and the NSE Nifty 50 Index advanced 0.11 per cent or 12 points to end at 11,597.

Nifty is still in a consolidation range and support lies around 11,569-11,549 levels. Going ahead, this support zone would be closely watched by the traders. A sustainable move below this would result into an extended correction. However, in our sense, Nifty would probably move higher and immediate resistance is now placed in the zone of 11,638 - 11,675 levels, Sameet Chavan, chief analyst- technical and derivatives with Angel Broking, said.

Twelve of 19 sector gauges compiled by BSE ended higher led by the S&P BSE Energy Index's 1.1 per cent gain. Telecom, oil & gas, FMCG, consumer durablesand auto indexes also rose beween 0.5 and 1 per cent each. On the flipside, S&P BSE Information Technology Index was top loser, down 1 per cent.

Mid- and small-cap shares ended in-line with their larger peers as the S&P BSE MidCap and S&P BSE SmallCap Index ended little changed.

Indiabulls Housing Finance, Bharti Airtel, Bajaj Finserv, Bajaj Auto, Dr. Reddy's Labs, GAIL, State Bank of India, Reliance Industries and Bajaj Finance were among gainers in the Nifty 50 basket of shares. On the other hand, Vedanta, Sun Pharma, Power Grid, Tech Mahindra, Axis Bank, Infosys, Tata Steel, Adani Ports, ICICI Bank, HCL Technologies and TCS were among the laggards.



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