Markets end on a flat note; IT, metal stocks rally

After hitting record highs, equity benchmarks ended flat on Wednesday amid profit booking. Sensex ended 14.77 points or 0.03% lower at 55,944.21. The 30 share BSE index had hit a fresh lifetime high of 56,198.13 in early trade. On the other hand, Nifty settled at record 16,634.65, up 10.05 points or 0.06%. The 50-share index hit a fresh lifetime high of 16,712.45 during the day. TCS, rising over 1%, was the top Sensex gainer followed by Infosys, Reliance Industries, HUL, Nestle India and ITC. Bajaj Finserv, Titan, Maruti, Bharti Airtel and Tata Steel were among the laggards. Most sectoral indices on the NSE, barring Nifty IT, Nifty Metal and Nifty FMCG, closed in the red. Nifty IT, up nearly 1% was the top sectoral gainer followed by Nifty FMCG and Nifty Metal. Overall, the market breadth was positive as 1,991 stocks on the BSE advanced, while 1,214 declined and 105 remained unchanged.