Nifty pares initial gains, ends flat

The benchmark Nifty trimmed its initial gains to end flat with modest gain of 10 points at 9,438 on the opening day of the expiry week of futures and options May contract.
While, FMCG, IT and infra stocks gained, PSU banks, pharma, realty, energy and metal stocks contributed most in fall of Nifty.
Overseas, most European stocks were trading higher as investors digested a multi-billion dollar merger in the chemicals industry. While Asian equities ended mixed.
The NSE 50-share Nifty index opened higher at 9,480.25 and hovered between 9,498.65 and 9,427.90 before finishing at 9,438.25, a modest rise of 10.35 points, or 0.11 per cent.

It saw an intra-day movement of about 70.75 points.
Sector-wise, FMCG rose (3.60 per cent) IT (0.46 per cent) and infra (0.15 per cent).

While, PSU banks fell (4.17 per cent), pharma (1.94 per cent), realty (1.47 per cent), energy (0.80 per cent), auto (0.67 per cent), metal (0.57 per cent), banks (0.51 per cent) and financial services (0.54 per cent).
Broader market, however, succumbed to selling pressure for the fourth consecutive day, the mid-cap and small-cap fell by 1.12 and 1.82 per cent, respectively.
Major index gainers were ITC 6.08 per cent, InfraTel 2.37 per cent, Zeel 1.63 per cent, Larsen 1.59 per cent, Hcl Tech 1.51 per cent, Tata Motors 1.32 per cent and Adaniport 1.30 per cent.

SBIN fell by 4.45 per cent, while other notable losers were Lupin (3.96 per cent), Auro Pharma (3.38 per cent), Bank Of Baroda (3.15 per cent), Ambuja Cement (3.14 per cent) and Eicher Motor 2.95 per cent.
A total of 1,194 scrips declined and 497 advanced. While 73 remained unchanged. Total securities that hit their price bands were 135.
Turnover in the cash segment fell to Rs 22,605.50 crore, from Rs 29,193.68 crore yesterday.
A total of 12,009.14 lakh shares changed hands in 8,628,819 trades. The market capitalisation of listed firms stood at Rs 12,311,121.74 crore.