Sensex Gyrates Over 1,100pts, Ends Flat

Mumbai: Benchmark stock indices Sensex and Nifty closed flat in highly volatile trade on Monday as continuous FII selling, disappointing quarterly earnings and weak trends from Asian markets dented investor sentiment. After gyrating between highs and lows, benchmark Sensex eked out gains and closed marginally higher by 9.83 points or 0.01 per cent to settle at 79,496.15. The barometer gyrated 1,100.8 points between the day’s high of 80,102.14 and a low of 79,001.34. The NSE Nifty dipped marginally by 6.90 points or 0.03 per cent to 24,141.30.

From the 30-share Sensex pack, Asian Paints tumbled over 8 per cent after the company on Saturday reported a 43.71 per cent decline in consolidated net profit to Rs 693.66 crore for the September quarter, impacted by soft-demand conditions, material price inflation and a decline in decorative and coatings business in the domestic market. Tata Steel, Bajaj Finance, Mahindra & Mahindra, JSW Steel, NTPC, Adani Ports, Bajaj Finserv and Larsen & Toubro were also among the laggards. However, Power Grid, HCL Technologies, Infosys, Tech Mahindra, Tata Consultancy Services and ICICI Bank were among the gainers.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs3,404.04 crore on Friday, according to exchange data.