Sensex pares gains to turn flat, Nifty below 9,950; L&T up 4%
Equity benchmarks ended flat with a positive bias on Friday. L&T, HDFC Bank and ITC helped the market close higher but Infosys and HDFC capped upside.
The 30-share BSE Sensex was up 24.78 points at 31,687.52 and the 50-share NSE Nifty gained 4.90 points at 9,934.80.
The market breadth turned negative in afternoon trade today as about three shares declined for every share rising on the BSE.
IDBI Bank shares gained a percent as the board of directors has approved divestment of its stake in SIDBI.
Glenmark Pharma shares dropped more than 3 percent after brokerage house Credit Suisse slashed its target price on the stock to Rs 650 from Rs 750 per share.
Bajaj Finance shares fell more than 3 percent in the afternoon as the company raised funds through QIP at a discount to its floor price.