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Sensex, Nifty End Flat; Government-Owned Banks Outperform

The S&P BSE Sensex and NSE Nifty 50 indexes ended on a flat note in trade on Friday as gains in ICICI Bank, State Bank of India, HDFC Bank, Tata Steel and Bajaj Finance were offset with losses in Kotak Mahindra Bank, ITC, Reliance Industries and HDFC. The benchmarks traded in a rangebound manner and switched direction at least five times before ending marginally higher. Despite the flat closing, the Sensex and Nifty closed at record highs for fourth day in a row.

The Sensex rose 8 points to close at a fresh all-time high of 41,681.54 and Nifty 50 index advanced 12 points to close at record high of 12,272.

Eight of 11 sector gauges compiled by National Stock Exchange ended higher led by the Nifty PSU Bank index’s over 2 per cent gain.

Source: NDTV Profit