Markets end flat amid volatility

Key share indices ended flat after witnessing a volatile session throughout the day.  

The Bombay Stock Exchange’s 30-share Sensex provisionally closed at 17,760 up 11 points. The National Stock Exchange’s 50-share S&P CNX Nifty provisionally closed at 5,382.55 up 0.95 point.

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Key share indices have extended their gains led by support from RIL, banking and auto shares and firm European cues. The Sensex and the Nifty are trading above 17,800 mark and 5,400 levels, respectively.  

At 1430 hrs, the Sensex was up 72 points at 17,821 and the Nifty gained 19 points at 5,401 levels.

On the global front, most of the Asian markets ended positive barring Shanghai. Asian markets advanced after Greek lawmakers approved a highly unpopular austerity bill in return for a second bailout from the European Union and International Monetary Fund to avoid a chaotic default. European markets are firm with CAC, DAX and FTSE gaining by nearly 1% each. 

Back home, index heavyweight Reliance Industries has edged higher on reports that the company has signed a deal with France's Dassault Aviation for partnering in the defence and homeland security sector in India. 

Auto stocks like Hero MotoCorp, Bajaj Auto and M&M have gained between 1-2%.

At the same time, Consumer Durables index is the top sectoral gainer, with stocks like Bajaj Electricals, Gitanjali Gems, Titan Inds and Whirlpool gaining between 1-4%.

From the financial space, HDFC Bank has gained by almost 1%. ICICI Bank and HDFC Bank are trading marginally positive.

SBI has declined by nearly 2% after reporting the Q3 earning numbers. The bank reported a 15.3% jump in net profit at Rs 3,263 crore for the third quarter ended December 2011 as compared to Rs 2,828.1 crore in the same period a year ago. The gross non-performing asset (NPA) ratio stood at 4.61% as against 4.19% in the previous quarter (Q2).

On the losing side, Tata Power is the top Sensex loser, down 3% after reporting a 40.7% drop in consolidated net profit at Rs 262.6 crore, compared with Rs 442.3 crore in the year-ago period.

Capital Goods major L&T has surged by over 1%.

The broader markets remain marginally positive with BSE Midcap and Smallcap indices gaining between 0.3-0.45%.

The overall market breadth remains positive as 1,411 stocks are advancing while 1,347 are declining.