Sensex ends flat, IT services gain, SBI drops

SENSEX-INDIA-SBI-IT-STOCKS:Sensex ends flat IT services gain, SBI drops

The BSE Sensex provisionally ended range-bound on Friday as gains in software service exporters such as Infosys were offset by declines in State Bank of India and Tata Motors after both disappointed with their quarterly earnings.

State Bank of India dropped 4.1 percent after the country's largest lender posted a rise in bad loans, offsetting the surge in quarterly net profit in the April-June quarter.

Tata Motors fell 3.24 percent on Friday as analysts cast renewed doubts on the sales outlook for its key Jaguar Land Rover subsidiary after the Indian auto maker missed estimates with its first-quarter results on Thursday.

 

However, Infosys gained 1.36 percent, helping support the broader indexes.

India's benchmark BSE index provisionally ended down 0.02 percent at 17,557.74 points, while the 50-share NSE index fell 0.05 percent to 5,320.40 points.