Sensex, Nifty flat; IT index sheds 1%, Network18 up 4.5%

Domestic equities started on a subdued note on Tuesday amid lack of domestic and global triggers, and as investors indulged in year-end profit booking.

The benchmark S&P BSE Sensex was quoting at 71,102 levels in early deals, down 5 points or 0.01 per cent. The Nifty50, meanwhile, was at 21,361, up 12 points or 0.06 per cent.

In the broader markets, the BSE MidCap and SmallCap indices advanced 0.42 per cent and 0.38 per cent, respectively.

Among sectors, all but the Nifty IT (down 1 per cent), and the Nifty Realty (down 0.04 per cent) were in the green led by the Nifty Media index (up 0.78 per cent) and the Nifty Metal index (up 0.6 per cent).

Buzzing stocks

Network18 Media, TV18 Broadcast: Shares of the Reliance Industries’ group companies surged 4 per cent each after reports said Walt Disney and RIL have inked a non-binding term sheet in London to advance with plans to merge their India-based media operations.

Adani Green: Shares were up 2 per cent as the company has inked a power purchase agreement (PPA) to supply 1,799 megawatts (MW) of solar power with the Solar Energy Corporation of India (SECI).

Infosys: Shares were dowm 2 per cent after a global company decided to terminate the Memorandum of Understanding, which the two companies were to sign. The company said the parties will not be pursuing the Master Agreement.