Markets End on a Flat Note

Markets ended a choppy session of trade on a flat note as auto shares weighed off-setting gains in consumer durable stocks. The S&P CNX Nifty was confined to a narrow 42 points range during the day. The Nifty opened flat on back of nervousness across the Asian bourses; but gains across Europe lifted Indian markets to a high of 5540 in the noon session. However, the Nifty was unable to hold on to gains and closed flat at 5521, down 5 points after weekly inflation accelerated to 9.1%. The benchmark Sensex ended at 18,383, down 9 points. Asian peers also ended in the red as risk appetite for equities waned on concerns of a global slow down after Ben Bernanke said that US recovery was lagging. Japan's Nikkei Stock Average fell 0.3%, South Korea's Kospi Composite lost 0.2%, Hong Kong's Hang Seng Index declined 1%, and China's Shanghai Composite fell 0.6%. Market breadth was negative with 1384 advances as against 1398 on declines.