The equity benchmarks ended on a flat note on Wednesday as gains in banking shares such as Kotak Mahindra Bank, HDFC Bank, ICICI Bank, Axis Bank, State Bank of India and HDFC were offset by profit-booking in Reliance Industries, Tata Consultancy Services, Infosys, Larsen & Toubro and Nestle India. The Sensex traded in a range of 400 points and Nifty 50 index touched an intraday high of 17,383.40 and low of 17,254.20 during the day.
The Sensex ended 29 points lower at 58,250 and Nifty 50 index slipped 9 points to close at 17,353.
Nine of 15 sector gauges compiled by the National Stock Exchange ended higher, led by the Nifty Bank index’s 1 per cent gain.
Nifty Financial Services, PSU Bank, Private Bank, Consumer Durables and Realty indices also rose between 0.5-1 per cent.
On the other hand, Healthcare, Realty, Pharma, Media and Information Technology indices closed lower.
Mid- and small-cap shares also witnessed buying interest as Nifty Midcap 100 index rose 0.6 per cent and Nifty Smallcap 100 index advanced 0.65 per cent.
Kotak Mahindra Bank was top Nifty gainer, the stock rose 3.6 per cent to close at Rs 1,827.80. Power Grid, Grasim Industries, Coal India, NTPC, Titan, Tata Consumer Products, HDFC Life and UPL also rose between 1-2 per cent.
On the flipside, Divis’ Lab, Nestle India, Wipro, SBI Life, Hindalco, Maruti Suzuki, Bajaj Auto, Bajaj Finserv, TCS, Larsen & Toubro and Britannia Industries ended lower.
The overall market breadth was positive as 1,812 shares ended higher while 1,365 closed lower on the BSE.