Nifty ends flat, fails to hold 8250 levels

The benchmark Nifty ended almost flat at a mix trading session, private bank, energy, auto and financial services sectors did well while, PSU banking, realty, infra, pharma and media stocks continued to put pressure thus ending the day with negligible gain of 2 pts to close at 8,221 levels, despite positive global cues.
Meanwhile, in overseas stock markets, European stocks traded higher as investors turned their attention to a key US jobs report that could hold the key to a Federal Reserve interest rate hike this month.
The Britain FTSE, German DAX and French CAC were up 0.5 to 1 pct. Asian markets ended mostly higher with Nikkei rising 0.5 pct despite strong yen. Back home, considering mix cues from global equity market Nifty opened on a positive note with a gap up opening of 46 points at 8246 levels later posting a day high at 8262 on profit booking during first hour of trade.

A level of 8240 continued to act as strong resistance but failed to break the level, Nifty was dragged down to lower levels and pessimism prevailed till the closing with marginal gains.
The 50-share Nifty resumed higher at 8,246.20 and moved in a range of 8,262.00 and 8,209.85 before ending at 8,220.80, showing a marginal gain of 1.85 pts or 0.02 percent.
On the sectoral front, Pvt Banks rose by (1.16 pct), Bank Nifty (0.64 pct), Energy (0.54 pct) Finance Service (0.45 pct) and Auto (0.41 pct)

However, PSU Bank declined by (1.96 pct), Realty (1.25 pct), Infra (0.99 pc), Pharma (0.86 pc) and Media (0.49 pc).

Among the index gainers were, Axis Bank (3.49 pct), Kotak Bank (3.08 pct), Tata Power (2.28 pct), HUL (1.92 pct) NTPC (1.83 pct) TataMtrDvr (1.64 pct) and M&M (1.48 pct).
Index laggards included, Idea dropped by (11.05 pct) followed by BhartiArtl (2.20 pct), SBIN (1.97 pct), Lupin (1.71 pct), Bhel (1.71 pct) and HeroMotoco (1.37 pct).
A total of 891 shares declined, 670 advanced, while 70 ruled stable.
Turnover in cash segment fell to Rs 20,319.03 crore from Rs 16,481.63 crore yesterday. A total of 10,933.43 lakh shares changed hands in 76,82,828 trades.
The market capitalisation of NSE stood at Rs 98,06,395.90 crore.