Markets End on a Flat Note

The Indian Markets closed the day on a flat note as they traded in an extremely narrow band, before settling with marginal gains. The NSE Nifty today touched a low of 5382 in late morning trades owing to weakness in key heavyweights like SBI, ONGC and Infosys. However, the index thereafter recovered its losses and rebounded into green led by gains in HDFC, ABB and ICICI Bank. The Sensex closed the day in green gaining 34.63 points or 0.19 percentage points to close at 17,992.00. Nifty ends the day at 5408.90 gaining 11.35 points or 0.61 percentage points. Market breadth was negative with 1,410 advances against 1,476 declines on BSE. On the global front, European stocks rose as improving earnings from Telefonica SA to Cap Gemini SA outweighed a Federal Reserve report that showed growth slowed in some areas of the economy. U.S. index futures and Asian shares gained.