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Markets ended flat, amid a volatile trading session, weighed down by profit taking in select index heavyweights after both the benchmark indices hit record highs for a fourth straight session on Wednesday.
The 30-share Sensex ended down 47 points at 27,869 after hitting a high/low of 27,981/27,740 and the 50-share Nifty ended 1 point lower at 8,337 after touching a high/low of 8,360/8,290.
Foreign institutional investors were net buyers in Indian equities worth Rs 1,031 crore on Wednesday, as per provisional stock exchange data.
The Indian rupee lost further ground and was trading at Rs 61.64 to the US dollar compared to the previous close of Rs 61.41.
Asian shares except for Japan ended lower on Friday ahead of U.S. employment data later today. Japan's Nikkei ended up 0.5% as sentiment was supported by a pledge from the European Central Bank to take further steps to revive the euro zone economy. Meanwhile, Chinese shares pared early gains to finally end 0.3% lower while Hang Seng closed down 0.4% and Straits Times eased 0.1%.
European stocks edged higher on hopes that the European Central Bank may announce monetary easing measures to boost growth in the euro zone. The CAC, DAX and FTSE 100 were up 0.1-0.8% each.
The BSE Healthcare and Realty indices were the top sectoral gainers up over 2% each followed by Consumer Durables index up 0.4%. Capital Goods, Metal, Power and Auto were the top losers.
Pharma shares recouped early losses to finally end with gains. Dr Reddys Lab ended 4.5% up after the US Food and Drug Administration (FDA) said it has granted final approval to Indian drugmaker Dr Reddy's Laboratories and US firm Endo International Plc to make cheaper copies of Roche Holding AG's antiviral Valcyte. The tentative approval granted to Ranbaxy was revoked by FDA.
Sun Pharma gained 2,5% after paring early lossed while Cipla ended 1% lower.
Auto shares ended lower with Tata Motors and Maruti Suzuki down between 0.2-0.3% while Bajaj Auto and M&M ended 1-1.4% lower.
Hero Motocorp ended down 2% on a block sell-off of 8.5 million its shares by private equity company Bain Capital.
Among bank shares, Axis Bank has gained 2.4% and ICICI Bank rose 1% while SBI ended down 1.4%. HDFC Bank ended down 1.5% on reports that it has been excluded from MSCI India index.
Metal shares continue to lose sheen in today’s trade after the services purchasing managers' index (PMI) compiled by HSBC/Markit pulled back to 52.9 in October, the weakest reading since July, from 53.5 in September. Sesa Sterlite and Coal India ended down between 1-2% each.
Infrastructure scrips are witnessing profit booking after a smart rally on the back of government relaxed foreign direct investment (FDI) rules in the construction sector by reducing minimum built up area as well as capital requirement and easing exit norms. L&T and BHEL have lost between 0.8-3%.
L&T ended lower ahead of its results to be released later today.
Telecom major Bharti Airtel ended up 1.3%. Bharti Airtel has called off its plans to acquire business and assets of Mumbai based Loop Mobile, for about Rs 700 crore, as the Department of Telecom is yet to clear the deal.
Among the index heavyweights Reliance Industries and ITC ended down 0.8-1% each.
DLF surged 6% after the Securities Appellant Tribunal (SAT), in an interim relief, allowed real estate giant to redeem its mutual fund investments of Rs 1,806 crore to service its debt.
Among other shares, Cummins India surged 8% after reporting a better than expected net profit of Rs 202 crore for the second quarter ended September 2014, primarily due to higher exports and other income. The company had a profit of Rs 145 crore in the second quarter of last fiscal.
Aurobindo Pharma gained 2% after reporting a robust 58% year on year (yoy) jump in consolidated net profit at Rs 372 crore for the second quarter ended September 2014 (Q2), mainly on account of overall growth led by US Generics. The drug maker had profit of Rs 235 crore in a year ago quarter.
Realty firm Godrej Properties declined 2% after the company reported a 4.07% decline in its revenue in the second quarter.
Escorts has slipped 8% after reporting a net loss of Rs 7.85 crore for the second quarter ended September 2014 (Q2), mainly on account of one time exceptional expense and higher raw material cost.
The broader market ended mixed, the BSE Mid-cap index gained 0.3% and the Small-cap index ended down 0.4%.
Market breadth ended weak with 1,569 losers and 1,438 gainers on the BSE.
