Nifty ends on a flat note, ICICI Bank steals the show

The S&P Nifty moved between a high of 5,223.05 and low of 5,154.30 before ending at 5,190.60, a mere 1.60 point gain over its last close.

Market today opened on a flat note but gained momentum on heavy buying in banks in the wake of cabinet approving increase in the limit for voting rights of shareholders in private banks to 26 per cent from 10 per cent.

The buying continued till mid-afternoon but later the market saw some profit-booking.

However, better-than-expected Q4 earnings from the private lender ICICI bank boosted the sentiment, helping the bourses to off-set the losses posted earlier and the market managed to end flat. The ICICI counter was up by nearly 4 per cent intra-day and closed at Rs 860.75, up 2.3 per cent.

Technology, banking, auto and pharma counters attracted good buying interest, while FMCG, metal and oil&energy sector encountered selling.

ICICI Bank, Hindalco, HCL-Tech, Infosys, Gail, JP Associates, Asian Paint, Tata Power, Axis Bank and Siemens were the top percentage-wise gainer from the Nifty.

Sail, Coal India, IDFC, ACC, SBIN, BHEL, Jindal Steel, Bajaj Auto, PNB and Reliance Infra registered losses.

Turnover in cash segment declined to Rs 9,948.12 crore from Rs 12,258.34 crore yesterday. In all, 5,702.9 lakh shares changed hands in 50,72,403 trades. Market capitalisation stood at Rs 59,75,657 crore. PTI EDM PAK DKR