Mumbai, Jan 18 (IANS): A benchmark index for Indian equities markets Wednesday closed on a flat note despite heavyweight scrip Reliance Industries (RIL) soaring after announcing a share buyback.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Excahange (BSE), which opened at 16,502.42 points, closed at 16,451.47 points, 14.58 points or 0.09 percent down from its previous close at 16,466.05 points.
It had rallied over 276 points in Tuesday's trade.
The 50-scrip S&P CNX Nifty of the National Stock Exchange also closed lower at 4,955.8 points -- down 0.23 percent or 11.5 points from its previous close.
Broader markets were also subdued. The BSE 500 index closed 0.49 percent lower from previous close. The BSE midcap index ended 1.16 percent down and the BSE smallcap index slipped one percent.
Reliance Industries was the major mover with news of a share buyback sending the stock soaring. The RIL scrip closed 4.2 percent higher at Rs.771.25 at the BSE. It had touched a high of Rs.786.80.
Other prominent gainers on the 30-scrip Sensex included HDFC Bank, up 3.2 percent at Rs.482.10; ONGC, up 1.8 percent at Rs.266.55; DLF, up 1.5 percent at Rs.201.10; and Hero MotoCorp, up 1.4 percent at Rs.1,852.95.
Among losers were Tata Steel, down 4.6 percent at Rs.422.25; Coal India, down 3.5 percent at Rs.339.05; BHEL, down 3 percent at Rs.272.15; and TCS, down 2.9 percent at Rs.1,072.30.
Asian markets were ruling mixed as investors grew cautious after overnight results from some US Banks showed weak quarterly earnings. But there was some good news as well with recent successful bond auctions conducted by Spain and Greece.
The Japanese Nikkei rose 0.99 percent and closed at 8,550.58 points, while Hong Kong's Hang Seng moved 0.3 percent to close at 19,686.92 points.
The Chinese Shanghai Composite index fell 1.39 percent to end at 2,266.38 points.
European markets moved up but were ruling quiet at the time of filing this report. Investors cautiously eyed talks between Greece and its private creditors and ahead of bond auctions by Portugal and Germany.
Britain's FTSE 100 was ruling 0.1 percent up at 5,699.63 points, while the German DAX was trading 0.49 percent up at 6,363.69 points.
The French CAC 40 was ruling 0.46 percent higher at 3,284.93 points.