Markets End Flat in Green

The benchmark indices ended on a subdued note in contrast with the insanity prevalent in the previous session. The Sensex ended at 17,560, higher by 54 points and the Nifty shut shop at 5275, up 17 points. The midcap index ended at 6583, lower by 14 points and the smallcap index ended at 7874, down 33 points. IT and oil stocks led the day's gains. The benchmark indices had gone into a tizzy in the previous session on fears that the government may re-visit the Indo-Mauritius double taxation avoidance treaty in an attempt to tax capital gains on investments routed through Mauritius. And the woes were only compounded by the weak cues from the global market front in wake of the inability of European governments to agree on a loan payment scheme to spare Greece from default. The IT index broke a four-day losing spree to emerge as the leading sectoral gainer on the BSE.  TCS soared by 3.2% at Rs 1104 to top the gainers list on the BSE. Index heavyweight RIL reversed its 7-day losing streak, adding 1.6% at Rs 848 and HDFC gained 1.7% at Rs 642. The market breadth was negative. Out of 2898 stocks traded on the BSE, there were 1127 advancing stocks as against 1665 declines.