Sensex, Nifty end flat: log weekly gains

Domestic equity benchmarks Sensex and Nifty ended on a flat note on Friday amid lack of fresh buying triggers and mixed global cues.

The 30-share BSE Sensex ended 14.23 points or 0.04 per cent higher at 38,854.55.

The broader NSE Nifty rose 15.20 points or 0.13 per cent to close at 11,464.45.

SBI was the top gainer in the Sensex pack, spurting 2.30 per cent, followed by TCS, Tech Mahindra, Bajaj Finance, Hindustan Unilever, Kotak Bank, Titan and Infosys.

On the other hand, IndusInd Bank, PowerGrid, Asian Paints, Bharti Airtel and HDFC Bank were among the laggards, dropping up to 1.71 per cent.

During the week, the Sensex advanced 497.37 points or 1.29 per cent, while the Nifty rose 130.60 points or 1.15 per cent.

"Indian benchmark indices ended flat, with a slight positive bias, undecided on the direction to take. Inspite of mixed global cues, Indian markets held out from going negative, after progress was supposed to be made during the talks to defuse border tensions with China.

"IT index again gained the most, after the markets were expecting a better Q2 performance from the IT companies. Although benchmark indices gained around 1.2 per cent on a weekly basis, it was characterised by volatility while FIIs have also pulled out around Rs 4,500 crores this month," said Vinod Nair, Head of Research at Geojit Financial Services.

During the talks between External Affairs Minister S Jaishankar and his Chinese counterpart Wang Yi on Thursday evening in Moscow, India and China agreed on a five-point roadmap including quick disengagement of troops and avoiding any action that could escalate tensions for resolving the four-month-long face-off in eastern Ladakh.

Meanwhile, BSE realty, IT, consumer durables, teck, metal and FMCG indices rose up to 1.31 per cent, while telecom and utilities ended in the red.

Broader BSE mid-cap and small-cap indices ended up to 0.58 per cent higher.

Global markets were mixed after another round of tech shares-led selloff on Wall Street.

Bourses in Shanghai, Hong Kong, Tokyo and Seoul ended on a positive note, while stock exchanges in Europe were mixed in opening trade.

Global oil benchmark Brent crude was trading 0.35 per cent lower at USD 39.92 per barrel.

In the forex market, the rupee depreciated 7 paise to close at 73.53 against the US dollar.