Mumbai, Feb 22: The benchmark Nifty erased all moring gains in the last one hour of trade and closed flat with positive bias.
The Sensex closed at 16237.05, up 45.42 points and the Nifty was at 4856.40, up 11.50 points, as per provisional data.
The profit booking was seen in realty, telecom, oil & gas exploration, pharma and select power stocks along with ITC and Grasim and ICICI Bank.
However, metal, technology, auto and select banking stocks along with HUL, L&T, Jaiprakash Associates and ACC witnessed buying interest throughout the session and capped the losses to major extent.
Sensex up 150 pts; IT, metals, banks gain
At 12:34 am, the Nifty was trading below 4900 with close to 1 pc gain. Buying was seen in IT, metals, banks and auto stocks.
The Sensex was up 149.35 points or 0.92 pc at 16340.98, and the Nifty was up 45.40 points or 0.94 pc at 4890.30. About 1588 shares advanced, 1267 shares declined, and 315 shares were unchanged.
All the BSE sectoral indices were trading in the green barring pharma. The BSE midcap and Smallcap index were marginally in green.
In the largecap space, Jaiprakash Associates was the top gainer. Hindalco, Tata Steel, SAIL and Jindal Steel were up 2-3 pc.
On the losing side, Idea Cellular was the top loser. Mah and Mah, Cipla, Sun Pharma and Reliance Infra were down 0.3-1.6 pc.
Nifty hovers around 4900; RIL, Infy, TCS gain
At 11:35 am, the Sensex continued to trade strong with around 180 points gains.
The Sensex was trading at 16372.13, up 180.50 points and the Nifty was at 4897.30, up 52.40 points. The broader indices gained 0.7 pc each.
The market breadth was positive; about 1722 shares advanced while 1114 shares declined on the BSE. Nearly 334 shares were unchanged.
Reliance Industries, Infosys, TCS, SAIL, Wipro, SBI, ICICI Bank, Tata Steel, Sterlite and Bharti Airtel were positive contributors.
However, ONGC, M&M, Idea Cellular and Cipla were the only losers on the NSE Nifty 50.
Nifty hits 4900 mark on positive Asian cues
The Nifty started the day on a strong note and was hovering around the 4900 mark following positive Asian cues.
At 9:02 am, the Sensex was trading at 16390, up 198 points and the Nifty was at 4901, up 56.75 points.
The CNX Midcap gained 73 points at 7286 and the BSE Smallcap rose 70 points to 8274. About 682 shares advanced while 65 shares declined on the NSE.
Among the frontliners, Tata Steel, Sterlite, Hindalco Industries, Jaiprakash Associates, DLF, Unitech, Tata Motors, Suzlon Energy, ICICI Bank, Ranbaxy Labs, Infosys, Hero Honda, M&M, Grasim, ACC, ITC and SBI were gainers.
However, Idea Cellular and BPCL were down.
Asian markets were trading strong. Nikkei shot up over 3 pc. Hang Seng, Kospi and Taiwan Weighted gained 2-2.4 pc. Straits Times was up 0.5 pc while Shanghai was down 0.4 pc.