The markets ended the day on a flat note on Friday on the back of rupee volatility and muted global cues and ahead of the FOMC meet in U.S. and RBI policy this coming week.
The Nifty closed at 5,851, up 0.10 points or 0 per cent and the Sensex closed at 19,733, down 49 points or 0.25 per cent. Realty, power and capital goods sector which rallied by over 2 per cent supported the Sensex while consumer durables and IT sector were the worst hit.
Jayant Manglik, President-Retail Distribution, Religare Securities said: "For the third successive session, the markets were seen struggling in a range despite better than expected IIP numbers announced on Thursday. Sluggish global markets and rupee volatility were to be blamed for this dull session. Finally, the benchmark index closed flat but with noticeable buying interest in midcap and smallcap segment ensuing positive market breadth."
According to Dipen Shah, Head- Private Client Group Research, Kotak Securities, going ahead, the policy decision by the Fed and its guidance, if any, on tapering of the quantitative easing measures will be closely watched by the market. "The first meeting of the RBI under the new Governor on September 20 will also be an important trigger for the market, especially the decision on interest rates," he added.
Volatility was down with the India VIX index closing at 28.29 down 4.77 per cent.
BHEL, DLF, Axis Bank, PNB, Reliance Infra were the top five Nifty gainers while HCL, Ultratech Cement, ITC, Tata Steel and ICICI Bank were the top losers.