Sensex ends flat

BSE Oil & Gas and Auto indices have plummeted by almost 1%

Sensex ended (provisional) at 17857 - up 10 points. Nifty ended up 6 points at 5,419.
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(Updated at 1435 hrs)

Markets have pared gains and have slipped into the red zone, weighed down by profit-taking in Oil & Gas and Auto shares. By 1420 hrs, Sensex was down 31 points at 17,815 and the 50-share Nifty dipped 11 points to 5,402.

On the global front, Japan's Nikkei average hit a three-month closing high on Thursday, reversing earlier losses as investors picked up exporters hurt by a firmer yen after the Fed signalled it is likely to launch another round of stimulus.

The Nikkei advanced 0.5 percent to 9,178.12, breaking above its five-day moving average at 9,160.09 and its 26-week moving average at 9,150.31. The benchmark lost as much as 0.8 percent to 9,062.54 earlier in the session.

Back home, on the sectoral front, BSE Oil & Gas and Auto indices have plummeted by almost 1% each followed by counters like Realty, Power, Capital Goods, PSU, Consumer Durable and Banks. However, BSE IT index has surged by nearly 2%.

ONGC is the top Sensex loser, down nearly 1.5%. Index heavyweight Reliance Inds has dropped by over 1%.

Auto shares like M&M, Tata Motors, Maruti Suzuki and Bajaj Auto have gained between 0.1-1%.

On the gaining side, IT companies continue to remain in limelight on the bourses after minutes from the US Federal Reserve showed that the central bank's policy committee discussed a third round of quantitative easing at its last meeting.

TCS is trading at its lifetime high is up 2% at Rs 1,319. Infosys and Wipro are up by 2-3%.

FMCG shares such as ITC and Hindustan Unilever are up on defensive buying. ITC is up 0.3% while Hindustan Unilever has gained nearly 1%.

The broader indices have turned absolutely flat. The market breadth in BSE turns unhealthy with 1,436 declining and 1,251 shares advancing.