Sensex Ends Flat; Maruti Suzuki Rallies 7.5%

After opening the day at record high levels, Indian share markets erased gains as the session progressed and ended on a flat note, led by a decline in IT stocks and index heavyweight HDFC Bank.

HDFC Bank's share price slipped over 1.5% after the Reserve Bank of India (RBI) imposed strictures on the bank after recent outages on internet banking, mobile banking.

At the closing bell, the BSE Sensex stood higher by 15 points. Meanwhile, the NSE Nifty ended up by 20 points.

In early trade, the Sensex rallied over 300 points to hit fresh record high tracking gains in index heavyweights HDFC Bank, Reliance Industries, and Maruti Suzuki amid largely positive cues from global markets.

ONGC was among the top gainers today. HDFC Bank, on the other hand, was among the top losers today.

SGX Nifty was trading at 13,206, up by 44 points, at the time of writing.

The BSE Mid Cap index ended up by 0.9%. The BSE Small Cap index ended higher by 0.7%.

Sectoral indices ended on a mixed note with stocks in the oil & gas sector and metal sector witnessing buying interest.

IT stocks, on the other hand, witnessed selling pressure.

Asian stock markets ended on a positive note as major countries moved closer to rolling out coronavirus vaccines, while hopes of more stimulus also boosted sentiment.

Japanese shares closed to a 29-1/2-year high as Japan's government committed to more fiscal spending and US President-elect Joe Biden pledged to act swiftly on stimulus measures.

The Nikkei ended up a modest 0.1% at 26,809.37 but settled near its highest since April 1991. The Shanghai Composite ended down by 0.2% and the Hang Seng ended up by 0.6%.

US stock futures are trading flat. Nasdaq Futures are trading up by 8 points, while Dow Futures are trading down by 93 points (down 0.3%).

The rupee is trading at 73.90 against the US$.

Gold prices for the latest contract on MCX are trading up by 1.1% at Rs 49,189 per 10 grams.

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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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