Sensex ends flat after choppy session

Amid a mixed batch of earnings reports, the market turned in a highly lackluster performance on Monday with investors mostly treading a cautious path, choosing to wait for the central bank's monetary policy review, due on Tuesday.

There were some strong gains for a few front line stocks from capital goods, FMCG, autokobile and power sectors, but the market failed to force its way up due to fairly heavy selling in heavyweights from metal and oil sectors. With most of the markets in the Asian region closed for New Year's Day holiday, there were no big triggers from the global front.

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The Sensex, which moved in a tight band almost right through the day, ended at 16,751.73 with a small gain of 12.72 points or 0.08%. The barometer touched a high of 16,784 and a low of 16,659.32 during the sesssion.

The National Stock Exchange's 50-stock Nifty index ended at 5046.25, around 25 points off the day's low of 5021.55, netting a loss of 2.35 points or 0.05%.

Maruti Suzuki rallied post announcement of results, and ended with a strong gain of 5.8%. Net profit of Maruti Suzuki for the third quarter plunged 64% from a year ago to Rs 205.62 crore, hurt by a sharp depreciation in the rupee and a decline in sales. The labour unrest at its Manesar plant in October also hurt production of some of its models, including one of its top selling compact car Swift, which further dented earnings.

Bharti Airtel notched up a gain of over 3%. BHEL and DLF gained 2.7% and 2.5% respectively. ICICI Bank, Cipla and ITC moved up by 1.4% - 1.8%. Hindustan Unilever, Mahindra & Mahindra, HDFC, NTPC, Bajaj Auto, Infosys, Wipro, Jindal Steel and State Bank of India also ended with smart gains.

Larsen & Toubro ended with a modest gain at Rs 1277.70. The company said its net profit for the third quarter ended December, 2011 was Rs 991.55 crore as compared to Rs 840.53 crore in the corresponding quarter last fiscal. Net sales for the quarter stood at Rs 13,999 crore, up 23% from Rs 11,396 crore in the same quarter last year. Other income for the quarter was posted at Rs 449 crore as compared to Rs 251 crore in the same quarter a year ago.

Grasim Industries, Punjab National Bank, Reliance Power, Reliance Communications and ACC ended with impressive gains.

Sterlite Industries tumbed by over 5% following a significant decline in earnings in the third quarter. Hindalco lost 4.3% and Hero Motocorp ended with a loss of 4.1%. Reliance Industries opened on a weak note due to a sharp 13.6% decline in net profit, and stayed that way right till the end to end 2.8% down.

Coal India, Tata Steel, Sun Pharmaceuticals, HDFC Bank and GAIL India also ended with notable losses.

Kotak Bank, BPCL, Reliance Infrastructure, Axis Bank, Ranbaxy Laboratories, GAIL India, Sesa Goa and IDFC were among the prominent losers in the Nifty index.

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Ultratech Cement, Asian Paints, Godrej Consumer Products and Idea Cellular saw some hectic buying on Monday on strong results. United Spirits and Tata Metaliks declined with weak results triggerng some selling in these stocks.

The market breadth was slightly positive. Out of 2914 stocks traded on BSE, 1451 stocks moved up. 1334 stocks declined and 129 stocks ended flat.