By Abhishek Vishnoi
MUMBAI (Reuters) - The BSE Sensex ended flat on Tuesday, with Infosys falling as a recent uptick in the stock was seen as unjustified given concerns over its business outlook, while Mahindra & Mahindra rose to a record on expectations of improving sales during the festival season.
A cautious market ahead of the winter session of parliament, which starts on Thursday, also tracked lower European shares after a credit rating agency stripped France of its top-notch rating.
Investors are looking for signs of the government's resolve to continue with reforms after introducing a slew of measures in September, including opening up the multi-brand retail and aviation sectors to foreign investors.
"The market is at a crossroad and waiting for an announcement from the government side," said R.K. Gupta, managing director at Taurus Mutual Fund. Markets could take a direction from the developments during the parliament's winter session, added Gupta.
The benchmark Sensex fell 0.05 percent, or 9.68 points, to end at 18329.32 points, falling for the seventh day in the last eight sessions.
The broader Nifty ended flat at 5571.55 points, after rising as mush as 0.76 percent earlier in the day.
The software firm continues to see a challenging demand environment, Kotak Institutional Equities said in a report citing a conversation with Infosys new CFO Rajiv Bansal.
Utility vehicle maker Mahindra & Mahindra
Shares in Lupin
However, shares in DLF Ltd
DLF was not ready to comment immediately as they were yet to receive the court order, a spokesman said.
Among midcap movers, shares in Eicher Motors
Macquarie initiated its coverage on Eicher Motors on Monday with an "outperform" rating citing capacity expansion in motorcycles, market share gain in heavy trucks and the start of production of Volvo's medium-duty engines.
Shares in Excel Crop Care Ltd
(Additional reporting by Manoj Dharra; Editing by Prateek Chatterjee)