Sensex, Nifty shed early gains to end flat; decline in banking, power share

Benchmark equity indices Sensex and Nifty retreated from early highs to close on a flat note on Wednesday due to fag-end selling in banking and power shares amid mixed global cues.

The 30-share BSE Sensex ended 0.02 per cent or 11.43 points higher at 65,087.25 points, marking its third straight day of gains.

Similar trends were witnessed on the NSE where the broader 50-share Nifty inched up 0.02 per cent or 4.80 points to settle at 19,347.45 points.

Most of the European stocks were trading in the negative territory while Asian shares ended the day on a mixed note.

"European stocks fell after the latest round of price data suggested inflation may not yet be fully on the retreat in the euro region. Asian markets too gave up some of their morning gains," Deepak Jasani, head of retail research, HDFC Securities said.

In the Sensex pack, majority of the shares closed in the positive territory. Among the main gainers were Jio Financial Services which jumped 4.99 per cent, Tata Steel (2.09 per cent).  PTI