The domestic equity benchmarks Nifty50 and Sensex ended flat today as market participants remained cautious ahead of quarterly results by later this week. Plus, profit-booking in recent gainers led by consumer durables, banks, capital goods, financials and auto shares played the spoiler. The Nifty50 index deducted 4.80 points of -0.05 per cent to settle at 10,632.20 today, while the 30-share Sensex closed 10.12 points or -0.03 per cent down at 34,433.07 today. Out of 50 stocks in the Nifty50 index, only 17 ended today's session in the green, while 33 closed in the red.
Benchmark indices settled flat today as investors remained cautious ahead of key corporate earnings later this week and the federal budget next month. Tata Consultancy Services is due to post December-quarter results on Thursday, followed by Infosys on Friday. Sentiment was subdued as broader Asian shares stepped back from their 2007 high.
The Nifty50 index settled lower for the first time in seven sessions and failed to continue its formation of higher highs and higher lows and formed a Hanging Man candle for second consecutive session. Such a formation following Tuesday's Doji is a cause for concern, say analysts. However, the decline is being bought into, but follow up buying is required to head towards new high levels. Unless the Nifty50 manages to get past 10,660 levels tomorrow, the index should well head down towards 10,500 level.