Sensex ends flat, SBI gains 1.70%

Updated on Tuesday, November 08, 2011, 18:52  85     Tags: BSE Sensex,  Nifty,  Indian stock market,  Dalal Street

Mumbai: The BSE benchmark Sensex Tuesday ended flat after a smart rise in SBI erased intra-day losses as investors adopted a cautious approach in the wake of another hike in petrol price, amid particularly weak Asian trends.      After opening slightly higher, the 30-share Bombay Stock Exchange (BSE) benchmark Sensex fell to 17,455.22 but recouped to end the day at 17,569.53, a marginal gain of 6.92 points from its last weekend close.      Realty, healthcare stocks came under selling pressure and ended up as major losers of the day.      The NSE 50-share Nifty also moved by 5.15 points percent to finish at 5,289.35.      Market players said close to 2 percent gain in SBI stocks helped the Sensex to recover intra-day losses.      "The key index closed a flat mode mainly on account of a rise SBI and IT bellwether Infosys," Alex Mathews, Head of Research at Geojit BNP Paribas Financial Services said.      A marginal 0.26 percent gain in RIL and 0.36 percent gain in Infosys, two heaviest Sensex stocks, also helped avoid a steep loss. Tata Motoros, Hindalco, Sterlite, HUL and TCS were the other notable gainers of the day.      Sun Pharma at 2.05 percent was the biggest Sensex loser. NTPC, Cipla and DLF too lost in the 1-2 percent range.       Market players said invesors adopted a cautious approach due to euro zone debt crisis and rising fuel prices. Last week, oil marketing companies had increased petrol prices by Rs 1.80 per litre which is expected to fuel the already high inflation further, they added. Of the 30-share of Sensex pack, 17 ended with losses and 12 finished with gains while Tata Steel ruled steady.     Among the sectoral indices the BSE-Realty fell by 1.38 percent, the BSE-Healthcare 0.51 percent.     However, the BSE-Consumer Durable index moved up by 0.94 percent, the BSE-Oil&Gas by 0.20 percent.     The total market breadth continued to remain positive as 1,434 stocks finishing with gains while 1,399 stocks ending with losses.     The total turnover was relatively lower at Rs 1,984.53 crore from the Friday's level of Rs 2,387.90 crore.     Meanwhile, most Asian shares ended lower on euro-zone debt worries. Investors are concerned that surging bond yields could stifle debt-ridden Italy's fund raising ability and throw the euro zone deeper into financial turmoil. Key benchmark indices in China, Japan, South Korea and Taiwan finished lower by 0.24 percent to 1.27 percent.     However, European stocks opened cautiously higher following overnight gains on the Wall Street, though the worsening political backdrop in Italy may mean any upside will be short-lived. Key benchmark sensex in France, Germany and UK rose by 1.23 percent to 1.41 percent. PTI

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