Nifty ends flat; focus shifts to Q3 earnings
07 Jan 2012
The Indian benchmark indices ended on a flat note as per market participants' expectation. Markets were open today because the NSE is upgrading its Futures & Options system. It was live between 11:00 and 12:45 pm today. Low volumes, stock-specific rally and absence of any major news were key highlights of this truncated session.
The Sensex shut shop at 15848.80 down 18.93 points or 0.12% and the Nifty closed at 4746.90. down 7.20 points or 0.15%. About 1531 shares have advanced, 661 shares declined, and 1291 shares remain unchanged.
Top gainers on the Nifty: DLF, GAIL, Reliance Comm, Maruti Suzuki and Coal India ended in green.
Top losers on the Nifty: Jaiprakash Associates, ICICI Bank, Cipla, Hindalco and Ambuja Cements ended with marginal losses.
Tech bellwether Infosys will kickstart earnings of software services providers next week and its going to be a tight rope walk between a depreciating rupee and tough business environment in US and Europe.
Rupee depreciation should ideally spell good news for IT companies. However, the cheers will be short-lived this time around, and the uncertainties in the macro environment led by the Eurozone debt crisis will weigh high on the third quarter earnings and future guidance.
