Sensex flat; Bharti strengthens on 2G ruling, DRL up

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The Sensex opened flat on the last day of the week after rallying for consecutive three sessions. Globally, Asian markets are trading mixed and the US is showing firm trends ahead of its employment report.

The Sensex was up 29 points at 17,460.44 and the Nifty rose 4 points to 5,273.95.

Frontliners like Ranbaxy Labs, Cipla, Coal India, Ambuja Cements, ACC, HUL, BHEL, L&T, Reliance Infrastructure, Sesa Goa and Jindal Steel were on buyers' radar.

Dr Reddy's Labs gained 2% ahead of Q3 numbers today.

However, IDFC, Tata Steel, SBI and Sterlite Industries were down 1-2%. PNB, Kotak Mahindra Bank too were down.

In the second line shares, telecom stocks continued to slip further after Supreme Court's verdict on 2G Case. Unitech was down 2%. Reliance Communications and Tata Teleservices fell 1.5% each. However, Bharti Airtel shot up another 3.8% on hopes that it may get more spectrum.

The CNX Midcap Index was down 15 points to 7,240. The market breadth was neutral.

In the second line shares, STC dropped 3.5%. Gokul Refoils, Sintex, GVK Power, Crompton and IDBI Bank were down 1.5-2%.

However, Syndicate Bank was up 3% as it will consider share issue on preferential basis to government on February 11.

Neyveli Lignite rose 2% as it plans to pay a dividend of Rs 439.51 crore to the coal ministry for 2011.

Orchid Chemical, NHPC, JSW Ispat, Manappuram Finance and Pantaloon Retail were up 1-3%.

JK Lakshmi Cement shot up 9% as its board will meet on February 7 to consider and approve buy back.