Sensex, Nifty end flat; Infosys falls, M&M gains - NDTV

The content may have been removed, or is temporarily unavailable. We apologize for the inconvenience. Please try again later.   The markets ended another day of vapid trade on a flat note after a promising start on concerns about the nature of the Winter Session of Parliament that is scheduled to begin on 22 November.  The Sensex fell 0.05 per cent, while the Nifty ended unchanged from yesterday's close. Auto stocks Maruti Suzuki and Mahindra & Mahindra (M&M) stood out in the dull trade, both clocking new 52-week highs. M&M ended over 3 per cent higher.  Infotech stocks saw losses with Infosys provisionally ending at Rs 2,325.40, down 1.46 per cent; BSE IT index ended 0.31 per cent lower. TCS and Wipro bucked the trend nearly gaining 1 per cent each. The markets had staged a recovery early morning after opening nearly 0.7 per cent higher buoyed by the positive sentiment in the Asian and world markets on hopes of a breakthrough in the US tax talks as well as encouraging US housing data. However, they soon pared early gains after the political uncertainty back home took a toll on market sentiment and buying interest tapered off. G. Chokkalingam, executive director and chief investment officer at Centrum Wealth, told NDTV that the next two weeks may be challenging for the markets although midcaps will continue to do well. A correction in the markets will present an opportunity to buy. Asian shares rose today on hopes of a compromise in the US fiscal crisis. MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.3 per cent. Australian shares were up 0.2 per cent and South Korean shares opened 1 per cent higher. European shares too opened lower after Moody's Investors Service scrapped France's top-notch credit rating, reiterating the protracted debt crisis in the 17-nation euro zone. Overnight, global stocks and commodities surged to recover some of last week's sharp losses on hopes US lawmakers will reach a deal to avert $600 billion in tax increases and spending cuts due to start in January - the 'fiscal cliff' that threatens to send the U.S. economy back into recession. Wall Street climbed almost 2 per cent, extending its Friday rally, with the Standard & Poor's 500 Index closing above its 200-day moving average for the first time in eight sessions. via Business - Google News

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