Sensex, Nifty close flat, FMCG stocks slips

In absence of any major cues, equity benchmarks consolidated in a narrow range on Thursday and closed almost unchanged. The Sensex and Nifty declined 0.10 per cent and 0.03 per cent to 27,809.35 and 8,421, respectively.

Among the sectoral indices on the Bombay Stock Exchange, BSE FMCG index declined the most 0.76 per cent to 7826, it was followed by BSE Power index (down 0.61 per cent), BSE Oil & Gas index (down 0.46 per cent) and BSE Metal index (down 0.39 per cent). However, BSE Realty index, BSE Auto index and BSE Capital Goods index gained 0.96 per cent, 0.80 per cent and 0.53 per cent, respectively, and stood among the list of top gainers.

Jayant Manglik, president, retail distribution, Religare Securities, says, "Initially, mixed cues from global front alongside with prevailing cautiousness among the investors, triggered profit taking. However, decline remained capped as buying was witnessed in select index heavyweights throughout the session. In line with benchmark index, majority of sectoral indices ended on flat note."

Among the Nifty stocks, Bajaj Auto, Coal India, Tech Mahindra, Grasim and Axis Bank were the top performing stocks with gains of 7.56 per cent, 3.32 per cent, 2.50 per cent, 2.41 per cent and 2.02 per cent, respectively.

However, Tata Steel, Vedanta, Idea Cellular, Cipla and Bank of Baroda retreated by 4.79 per cent, 3.26 per cent, 2.50 per cent, 2.20 per cent and 1.97 per cent, respectively, and stood at the bottom of the performance chart of the index.

Overall market breadth remained weak on the BSE as 1,182 stocks ended with gains while 1,505 closed with losses. Advances to decline ratio for Nifty remained at 22:28.

Companies such as State Bank of India, Ceat, Gujarat State Petronet, ITC, Mphasis, MRPL and National Building Construction Corporation of India may announce their earnings on Friday.