Sensex closes flat, Nifty above 8100 points amid mixed global cues

The BSE Sensex ended with a gain of 34 points at 26,350. The benchmark indice opened at 26,304 touched an intra-day high of 26,414 and low of 26,183.

The NSE Nifty closed 13 points higher at 8,127 points. It opened at 8,081 points, hitting a high of 8,147 and low of 8,067.

The domestic market traded flat due to mixed cues from global markets. The Indian stock market opened in red as the Sensex was down 118.97 points, while the Nifty50 was down 39.25 points.

Banking stocks slipped in opening trade after RBI hikes CRR on incremental deposits. The central bank hopes to curtail surging banking system liquidity that risks stocking inflation.

Power Grid, BPCL, Idea Cellular, Bharti Airtel and Hero MotoCorp are among the gainers, whereas Bank of Baroda, ICICI Bank, SBI, Wipro and TCS are losing sheen on BSE.

Some buying activity is seen in media, metal, auto, pharma and IT sectors, while PSU Bank, Bank Nifty and Private Bank are showing weakness on NSE.

The demonetisation drive of the government is likely to see some protests on the street in various parts of the country as few political parties have joined hands for ‘Akrosh Divas.’