Nifty ends below 5400 for 2nd straight day

Indian markets ended on a flat note amid a lackluster trading session on Monday. After opening on a positive note, markets turned dull and directionless for majority of the day, until, benchmark indices witnessed some heavy offloading in last half an hour of the day. The NSE Nifty was unable to end above the 5400 levels for the second consecutive day, and the selling was seen in the Pharma, Banking and the Infra stocks. Even the Mid-Cap and the Small-Caps bore the brunt.



"Market players seemed to have completely ignored the FY11 GDP growth estimates as it barely had any impact on the market. The Prime Minister restating that inflation posed a "serious threat to the growth momentum continued to dampen the sentiment. Going forward, a lot would hinge on the IIP data which will be released on Friday." says Amar Ambani, Head of Research (India Private Clients) - IIFL.

The BSE Sensex marginally added 29 points to end at 18,037 and the NSE Nifty flat at 5,396.

The European markets were trading with smart gains, the FTSE index was up 0.8%, CAC index was up 1.1% and DAX index was up 1%.

Outside the frontline indices, the big gainers in the broader market were Welcorp, Havells, Sintex and Renuka Sugars. On the other hand, losers included Sun TV, Central Bank, Thermax and LITL.