Sensex, Nifty end flat; charts say mkt in overbought state
Indian shares recovered from the day's low to provisionally end flat on Monday led by a rally in public sector banks on hopes that legislation on banking sector reforms would be passed during the current session of parliament. The consequent changes would lead to the issue of new banking licenses.
The Sensex closed down 14.41 points or 0.07 percent at 19409.69, while the Nifty up 1.50 points or 0.03 percent at 5908.90.
The rally in banks was led by heavyweight HDFC (up 3.15%) followed by Punjab National Bank (2.35 percent), Bank of India (4.3 percent) and Bank of Baroda (up 4.11 percent).
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