Sensex, Nifty end flat; metal stocks melt

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Sensex, Nifty end flat; metal stocks melt
The Sensex and the Nifty ended the day flat, after trading higher for most of the day with the action shifting back to IT and pharma stocks.

The Sensex ended the day with loss of 14 points, while the Nifty lost 2 points in trade. Metal stocks continued to have a bad run in trade with Jindal Steel, Tata Steel, Hindalco and Sesa Sterlite all ending significantly lower in trade.

IT stocks, however, rallied helping support the Nifty and the Sensex. TCS, Wipro and Infosys all ended the day higher.

Bata India had a bad day in trade after the company's shares dropped almost 5 per cent following results that disappointed the street.

Shares in Mumbai based construction company, HCC rallied 6 per cent after the company's net profits surprised the street.

Auto sector stocks fell after some of the April sales figures did not impress analysts. Mahindra and Mahindra and Maruti both saw their shares fall almost 2 per cent in trade.

Shares from the realty sector were steady after witnessing a carnage in trade on Wednesday, the only exception being Godrej Properties which fell after its numbers did not match street expectations.

PSU banking stocks which have been witnessing a stellar rally dropped. Indian Overseas Bank, Punjab National Bank, State Bank of India and Bank of Baroda all fell in trade.

Meanwhile, Asian markets ended the day mixed while most of Europe was trading flat. The German DAX was down 5 points, while the French CAC was down 16 points and the UK's FTSE up 6 points at 3.30 pm IST.

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