Sensex ends flat, broader markets gain

A key index for Indian equities Wednesday closed flat in choppy and lacklustre trade ahead of the derivatives expiry Thursday and on negative global cues, although buying was seen in broader markets led by realty stocks.The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,694.87 points, shut shop at 17,755.94 points, 6.25 points or 0.04 percent up from its previous close at 17,749.69 points. At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty ended at 5,323.15 points, up 0.12 percent from its previous close at 5,316.55 points.Broader markets were in gains with the BSE midcap index ending 0.84 percent higher and the BSE smallcap index 0.7 percent up. The market breadth was tilted towards the positive, with 1,764 scrips on the advance, compared to 1,069 stocks declining, and 155 remaining unchanged.According to data with the Securities and Exchange Board of India (SEBI), foreign institutional investors bought scrips worth $225.31 million Wednesday. Capital goods and metal scrips were under selling pressure, while realty and healthcare stocks saw buying.Among gainers on the Sensex were Maruti Suzuki, up 1.66 percent at Rs.1,407.35; Hindustan Unilever, up 1.66 percent at Rs.266.35; DLF, up 1.35 percent at Rs.291.75, and Infosys, up 1.1 percent at Rs.2,798.50. Prominent losers included L&T, down 3.08 percent at Rs.1,765.10; Jindal Steel, down 1.56 percent at Rs.661.45; NTPC, down 1.43 percent at Rs.196.65; and Sterlite Industries, down 1.43 percent at Rs.176.20. Asian markets were under selling pressure amid concern over the actual impact of the financial crisis on Euro zone banks after French bank Credit Agricole lowered the profit targets of its Greece unit.Also, poor US housing sector data had a negative impact on the markets, with analysts saying that the US Federal Reserve will give a not-so-positive economic outlook when its two-day meeting ends Wednesday. Overnight the Dow had closed 1.49 percent lower.The Japanese Nikkei ended at 9,923.7 points, down 1.87 percent, while the South Korean Kospi closed at 1,725.82 points, 0.33 percent lower.Hong Kong’s Hang Seng shut 0.18 percent down at 20,856.61 points. The Chinese Shanghai composite index too was in the red at 2,569.87 points, down 0.73 percent. European markets were in the red after the US home sales data raised doubts over sustainability of the global economic recovery. Mining and financial stocks were particularly hit.In Britain, the benchmark index, FTSE 100 was ruling 0.5 percent lower at 5,220.69 points, while the French CAC 40 was down 0.66 percent at 3,680.96 points.The German DAX was trading 0.29 percent lower at 6,250.89 points.