Indian shares ended flat on Thursday, as investors unwound positions on concerns over the delay in the monsoon and ahead of June-end quarterly earnings, which are expected to be weak, dealers said. The benchmark 30-share Sensex fell 11.69 points or 0.08 percent to 13,757.46. India has received poor rainfall this year and the government has warned that the monsoon could be below normal.
Investors will track first-quarter earnings, which commence with software giant Infosys Technologies on Friday. "The markets were choppy despite a positive report on the global economy from the IMF. Concerns persist over earnings performance and the high fiscal deficit," said Atul Hatwar, dealer with Crosseas Securities.
Losers led gainers 1,462 to 1,078 on turnover of 48.77 billion rupees (996 million dollars). Auto, banking and engineering stocks fell. Tata Motors fell 8.85 rupees or 3.35 percent to 272.3 while DLF fell 5.75 rupees or 2.02 percent to 278.7. Infosys Technologies fell 28.95 rupees or 1.7 percent to 1,676.75, ahead of its earnings. Larsen and Toubro fell 23.75 rupees or 1.68 percent to 1,389.4 while ICICI Bank fell 18.1 rupees or 2.77 percent to 636.45.