Mumbai, Jan 18: The BSE Sensex ended on a flat note today, down marginally by 15 points at 16,451.47 as it snapped out of 3-session gains on profit booking and weak overseas markets despite heavyweight RIL shooting up nearly 5 per cent.
Selling pressure was strong in metals, IT, capital goods, PSUs and power sector stocks.
RIL, top heavyweight on the BSE 30-scrip index, surged 4.94 per cent after it said in a filing that its board will meet on Friday “to consider and approve a proposal for buy back of equity shares”.
However, IT major TCS lost 2.62 per cent despite having posted sound Q3 results yesterday.
Overall, IT stocks were down on the strengthening rupee that tends to lower the profit margins of software services exporters. IT companies earn about 85 per cent revenues from the US and Europe.
Sensex opened the day higher than yesterday's level and moved between 16,517.96 and 16,384.48. It closed at 16,451.47, down 14.58 points or 0.09 per cent.
The NSE 50-share index Nifty also moved down by 11.50 points or 0.23 per cent to settle at 4,955.80.
Global cues were weak. Key indices in Hong Kong, Taiwan and Japan were up, but those in Singapore, China and South Korea were down. In Europe, markets in the UK, Germany and France were also down in the afternoon trade.
“The mood was somber for the entire market even as index heavyweight Reliance gained. IT stocks witnessed selling pressure from the onset of the session as sentiments got adversely affected by TCS's management cautious comments at the release of Q3 FY'12 results outcome,” said Shanu Goel, Research Analyst at Bonanza Portfolio.
“Tomorrow's session will be influenced by result outcome of Bajaj Auto and HDFC Bank,” she added.
FIIs, which have renewed their interest in buying Indian stocks, picked up equities worth Rs 1,025.75 crore yesterday as per provisional data from the stock exchanges. Of the 30 Sensex scrips, 18 scrips ended with losses.
Major losers were Tata Steel (4.05 pc), Coal India (3.22 pc), M&M (2.84 pc), BHEL (2.78 pc), Wipro (2.70 pc), ICICI Bank (2.07 pc), Infosys (1.87 pc), L&T (1.79 pc), NTPC (1.64 pc), Tata Motors (1.61 pc), Cipla (1.60 pc), Gail India (1.47 pc), Sterlite (1.28 pc), HUL (1.20 pc) and Maruti (1.12 pc).
However, HDFC Bank gained 2.79 per cent, followed by ONGC 2.39 - pc, Hero Motoco - 1.67 pc, DLF - 1.57 pc, SBI - 1.13 pc and HDFC - 1.05 pc.
Among sectoral indices, the BSE-Metal dropped 2.19 per cent, followed by IT - 2.16 pc, Capital Goods - 2.04 pc, Teck 1.77 pc, PSU - 1.31 pc, Power - 1.25 pc and Auto - 1.13 pc.
However, BSE-Oil & Gas shot up 3.12 per cent. The total market breadth turned negative as 1,702 shares finished with losses, while 1,086 registered gains.
The total turnover dropped to Rs 2,484.53 crore from yesterday's close of Rs 2,684.37 crore.