Nifty ends flat, profit booking erases early gains

Mumbai: Shares failed to sustain gains made earlier in the session on the National Stock Exchange on Friday on profit taking and the S&P CNX Nifty ended marginally changed over the previous close.

The 50-issue Nifty opened strong and soon crossed the 5,600 mark which was for the first time since January 28. It hit a high of 5,608.20 but could not hold on to those levels due to profit booking and fell back to settle at 5,538.75, only 2.55 points or 0.05 per cent higher over Thursday.

Power as well as some auto counters attracted good buying support while capital goods stocks lost ground.

Brokers said that rising global crude prices continued to daunt the market sentiment.

Asian markets closed today with marked gains while European stocks too were trading higher in their afternoon trade on the back of smart rally on Wall Street yesterday.

Top five gainers from the Nifty were Reliance Power (6.12 per cent), Tata Power (2.43 per cent), BPCL (2.21 per cent), Hero Honda (1.96 per cent) and Bajaj Auto (1.84 per cent).

However, L&T dropped by 3.05 per cent, Jaipra Asso by 2.50 per cent, Maruti Suzuki (1.91 per cent), SAIL (1.59 per cent) and Suzlon Energy (1.55 per cent).

Total turnover in the cash segment dropped to Rs 11,713 crore from Rs 14,990 crore yesterday. A total of 5,789.62 lakh shares changed hands in 57,08,014 trades.