Market ends flat; Rs drops 15 paise to settle at 71.08

Mumbai: Market gauges Sensex and Nifty gave up early gains to close on a flat note on Friday as investors moved to the sidelines amid concerns that the Supreme Court ruling on telecom AGR issue might further aggravate stressed assets problem in the banking sector.

At the closing bell, the BSE benchmark Sensex was up 12.81 points or 0.03 per cent at 41,945.37. The index also marked its new all-time high of 42,063.93 in intraday trading, before surrendering some of its gains.

The broader Nifty, however, settled 3.15 points or 0.025 per cent lower at 12,352.35. The NSE barometer too touched its life-time intraday peak of 12,385.45 in early deals before losing momentum.

During the week, the Sensex advanced 345.65 points or 0.83 per cent; while the Nifty rose 95.55 points or 0.77 per cent.

In a session marked by high volatility, gains in Reliance Industries offset losses in other heavyweights HDFC, ICICI Bank and TCS.

According to traders, domestic investors are awaiting directional cues from key corporate results for cues amid concerns over higher bank non-performing assets and a spike in retail inflation.

Bourses in Shanghai, Hong Kong, Tokyo and Seoul ended higher. European markets also started on a positive note.

Brent crude oil futures rose 0.36 per cent to $64.86 per

barrel.