Sensex ends flat, IT stocks slide

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FOREIGN FUNDS NET SELL RS.463.89 CR IN EQUITIES ON NOVEMBER 20 (PROV)
MUTUAL FUNDS NET SELL RS.176.7 CR IN EQUITIES ON NOVEMBER 19
DII'S NET BUY RS.18.46 CR IN EQUITIES ON NOVEMBER 20 (PROV)
TO ENTER INTO CUSTOMIZED MOTOR CYCLE BIZ VIA PRO-BIKING SHOWROOMS
TO EXPAND PANTNAGAR CAPACITY TO 70,000 UNITS IN NEXT FEW MONTHS
AKER IS A NORWEGIAN SERVICE PROVIDER CO FOR OIL AND GAS OPERATIONS
AKER SOLUTIONS TO PROVIDE SUPPORT SERVICES IN KG BASIN
AKER BAGGED SUB SEA PRODUCTION ORDER FROM RIL IN 2006 ALSO
RELIANCE IND PLACES RS.115 CR ORDER WITH NORWAY'S AKER SOLUTIONS
PORTING CHARGES TO BECOME APPLICABLE FROM DECEMBER 31, 2009
MNP ALLOWS USERS TO CHANGE OPERATORS WHILE RETAINING MOBILE NOS
USERS TO PAY MAX OF RS.19 TO CHANGE OPERATOR WHILE RETAINING OLD NUMBER
TRAI COMES OUT WITH NUMBER PORTABILITY CHARGES
PUNJAB NATIONAL BANK PLANS TO RAISE RS 700 CR BY SELLING BONDS
TATA TELE-QUIPPO OFFERING BETTER SERVICING DEAL FOR TOWERS: SOURCES
GTL BID 10-15% HIGHER THAN TATA-QUIPPO: SOURCES
DEAL VALUED AT AROUND RS.6000 CR : SOURCES
MAY JOIN RACE FOR SHELL'S EUROPEAN REFINERIES: SOURCES
SENSEX, NIFTY UP 1% EACH FOR THE WEEK
CNX MIDCAP INDEX UP 1%, BSE SMALLCAP INDEX UP 1.6%
METAL INDEX UP 3.7%, AUTO INDEX UP 2.3%, FMCG UP 1.5%
INDEX GAINERS: SUZLON UP 9.3%, TATA STEEL UP 6.3%, SAIL UP 5.3%
APPROACHED SHELL FOR BUYOUTS BEFORE ESSAR'S EXCLUSIVE TALKS BEGUN
ESSAR-SHELL IN EXCLUSIVE NEGOTIATIONS TILL NOV 30 TO BUY 3 SHELL REFINERIES
RIL SPOKESPERSON: 'WE ARE REVIEWING A NUMBER OF GLOBAL OPPORTUNITIES'
RIL SPOKESPERSON TO NDTV: 'REVIEWS CANNOT ASSURE TRANSACTIONS'
JSW ENERGY ALSO IN RACE FOR ANDREW YULE'S DPSC STAKE: NW
CESC, SREI INFRA IN RACE FOR ANDREW YULE'S DPSC STAKE: NW
GAMMON INFRA BAGS NHAI PROJECT WORTH RS.850 CRORES
NET PROFIT AT RS.48.2 CR VS RS.12 CR; SALES UP 55% AT RS.849 CR (YOY)

Updated: 15/10/2009 | 04:05 PM IST

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NDTV Correspondent and Agencies

Thursday, October 15, 2009 (New Delhi)

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Reversing early gains, the Sensex ended flat on Thursday, weighed down by losses in IT stocks. The Sensex ended 35 points lower at 17,195, after trading between 17,092 and 17,350 during today’s session.

On the NSE, Nifty ended 9 points lower at 5,108. The picture in the broader market was a tad better, with gainers edging out losers by 1402 to 1351 on the BSE.

While metal and banking stocks rose, selling pressure was seen in technology and pharma stocks. The BSE metal index gained 1.7 per cent and the banking index was up 1.6 per cent. In the metal space, JSPL rose 5.7 per cent and Hindustan Zinc gained 3.7 per cent. Bank of India and Yes Bank were the biggest gainers among the banking stocks, up more than 6 per cent each.

IT stocks were under pressure on the back of a strengthening rupee. The rupee today breached the 46-level against the dollar after nearly 13 months on steady inflow of foreign funds.

The BSE IT index fell 1.3 per cent. Rolta India fell 2.3 per cent while TCS and Infosys slid over 1.7 per cent each.

In the pharma space, Sun Pharma and Divis Lab shed more than 3 per cent each.

In the Sensex pack, 12 stocks rose while 18 counters fell. SBI was the top gainer. The stock rose 2.7 per cent to Rs 2,330. Tata Power, Sterlite Ind and ICICI Bank advanced over 1.6 per cent each.

Bharti Airtel was the biggest loser in the group. The stock ended down 4.2 per cent at Rs 325. Sun Pharma and Reliance Infra lost over 3 per cent each.

European stock markets edged lower on Thursday, a day after forecast-busting earnings from JP Morgan Chase & Co pushed many of the world's major indexes up to year highs.

Earlier in Asia, stocks had rallied hard, as investors caught up with the gains posted in Europe and the U.S. Wednesday.

In Japan, the Nikkei 225 stock average gained 178.44 points, or 1.8 percent, to 10,238.65, and Hong Kong's benchmark added 112.60, or 0.5 percent, to 21,999.08, hitting a new high for the year during trade.

South Korea's Kospi edged up 0.6 percent, while markets in mainland China and Taiwan also were higher.

Intel Corp., the world's largest chipmaker, also beat analysts' estimates and said it expects sales in the final period of the year to top analyst projections, raising hopes that the computer market was improving.

The results from JP Morgan and Intel helped breathe new life into talk of a stronger than anticipated global economic recovery, which has contributed to the big rally in stock markets over the last few months.

In the U.S., investors cheered the news, sending the Dow Jones industrial average above the key 10,000 level for the first time since October last year.

JP Morgan's results have set the bar high for the other U.S. investment banks due to report this week — Citigroup Inc., Goldman Sachs Group Inc. and Bank of America Corp. are also due to unveil their third-quarter earnings this week. Google Inc. is also due to report third-quarter earnings later as the results season gathers pace.

Oil prices rose towards year highs on growing investor optimism about an economic recovery and as the US dollar sank further. Benchmark crude for November delivery was up 38 cents to $75.56 a barrel.