Sensex, Nifty end flat; ITC drops 4%, ICICI Bank, Axis Bank gain up to 3%

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Benchmark equity indices BSE Sensex and NSE Nifty ended flat on Friday ahead of macroeconomic data later in the day. The 30-share index gyrated 543.96 points before closing 12.78 points, or 0.02%, up at its new closing record of 51,544.30. On the other hand, the broader Nifty index closed 10 points, or 0.07%, down at 15,163.30.

As many as 20 stocks in the Sensex pack ended the day in the red with FMCG major ITC falling the most 3.97%. It was followed by Sun Pharma (down 2.53%), ONGC (down 2.46%) and Bharti Airtel (down 1.98%). On the other hand, ICICI Bank, Axis Bank and Infosys each gained over 1%.

The government will release the headline IIP growth number for December and CPI inflation figures for January later in the day.

Vinod Nair, Head of Research, Geojit Financial Services said, “Market can undergo some consolidation after the sharp gains made post the reformist union budget. The broad undercurrent of the market may remain constructive especially on the small and midcaps. But the sentiment of the global market will play an important role in deciding the short-term trend which is getting mixed due to weakening European market.”

Among the sectoral indices on the BSE, the telecom index cracked the most 1.95%. The BSE Metal, FMCG, Consumer Durables and Oil & Gas also lost over 1%. On the other hand, BSE Bankex, Finance and IT indices gained over 0.40%.

Elsewhere in Asia, most bourses remained closed for holidays. Stock exchanges in Europe were trading on a negative note in mid-session deals.