Mumbai: Indian stock marketsended almost unchanged on Thursday as gains in information technology (IT) stocks were offset by profit booking in heavyweight banking and energy shares. Investors also remained cautious due to geopolitical tensions, fluctuating crude oil prices and mixed global market trends.

Flat Close

The BSE Sensex closed marginally higher by 1.44 points at 77,186.87. During the day, the index had climbed 394.26 points to 77,579.69, but lost most of its gains in the final session.

The NSE Nifty slipped 5.75 points, or 0.02 percent, to settle at 24,072.75.

IT Stocks Shine

IT stocks supported the market after easing US inflation raised hopes that interest rates may remain stable.

Among the top gainers on the Sensex were InterGlobe Aviation, HCL Technologies, Bajaj Finance, Maruti Suzuki, Mahindra & Mahindra and Tech Mahindra.

However, profit booking in HDFC Bank, Reliance Industries, Axis Bank, Bharat Electronics, Bajaj Finserv and Eternal erased most of the early gains.

Global Cues

Market sentimentremained cautious due to ongoing geopolitical tensions in the Middle East and fluctuating crude oil prices.

Brent crude, the global benchmark, traded 0.39 percent lower at $84.62 per barrel, but uncertainty over oil prices continued to influence investor sentiment.

Vinod Nair, Head of Research at Geojit Investments, said cooling US inflation reduced concerns over future rate hikes, but geopolitical risks and weak Asian markets kept investors cautious.

Sector Performance

Consumer Durables was the top-performing sector, rising 1.13 percent. IT, Auto, FMCG, Services and Telecom indices also closed with gains.

Financial Services, Private Banks, Realty, Utilities and PSU Bank indices ended lower.

Among Asian markets, South Korea's Kospi plunged 6.37 percent, while Japan's Nikkei and China's Shanghai Composite closed lower. Hong Kong's Hang Seng ended higher.

European markets traded lower during Indian market hours, while US markets had closed higher overnight.

According to exchange data, Foreign Institutional Investors (FIIs) sold Indian equities worth Rs 735.83 crore on Wednesday, adding to the cautious mood in domestic markets.