Bears take a breather; Nifty ends flat at 5243

It was a dull session for the market as the Nifty closed on a flat note making a doji pattern on daily technical charts. This pattern suggests investors are clueless about the direction of market.

India Inc has kick started the fourth quarter earnings season with Patni announcing its numbers today. Ranged for quite sometime, the market will look for some positive surprises in corporate earnings and also some relief from the high interest rate regime in the upcoming RBI policy. 

IT bellwether Infosys is expected to announce results on Friday. All eyes will be on the guidance announced by India's second largest software exporter which may drive the market in the short-term.

The Sensex shuts shop at 17243.84 up 21.70 points or 0.13% and the Nifty closed at 5243.60 up 9.20 points or 0.18%. About 1354 shares advanced, 1409 shares declined, and 651 shares remain unchanged.

Sectoral Check

FMCG stocks attracted buying interest on reports of monsoon arriving on time this year.