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Sensex flatten : NTPC, L&T, TCS top gainers

Benchmark indices were trading flat in afternoon trade, with the NSE Nifty hovering around its 30-days simple moving average of 5521. Selling was seen in auto and pharma stocks while buying was seen in capital goods and power stocks.

Reliance, ICICI Bank, L&T, TCS and Tata Steel were positive contributors to the Sensex. However, Infosys, ITC, HDFC Bank, HDFC and SBI were the negative contributors.

Raamdeo Agrawal, Director and Co Founder, Motilal Oswal Financial Services said the current sluggish trend will continue. Fourth quarter earnings, Agrawal said, were below expectations. He has reduced his FY12 Sensex earning per share (EPS) estimate by 4% to Rs 1,210-1,215.

Top gainers on the Sensex were NTPC at Rs 177.20 up 1.32%, L&T at Rs 1,720.05 up 1.15%, BHEL at Rs 1,933.45 up 0.92%, TCS at Rs 1,185.80 up 0.72% and Reliance at Rs 953.20 up 0.62%.



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