FINAL TRADE: Sensex, Nifty end flat shrugging off Hindenburg allegations, Nifty ends at 24,347; broader markets outperform

Indian equities in Monday ended on a positive trade despite the recent allegation levelled against Sebi chief by Hindenburg Research. Nifty at the close ended at 24,347, down 0.08 per cent, while Sensex closed at 79,648.92, down 0.7 per cent.

Sectorally, all indices recouped early losses, with only PSU Bank, pharma and FMCG stocks ending in the red. From the Nifty pack, top gainers during today's trade were ONGC, Hero MotoCorp, Axis Bank, Infosys and JSW Steel, while the laggards were NTPC, Adani Ports, Dr. Reddy's Laboratories, Britannia and SBI.

The markets shrugged off the initial nervousness amid the Adani-Hindenburg row after many of the financial institutions came in support of the SEBI chief.

Rupak De, Senior Technical Analyst, LKP Securities said,  "Nifty remained volatile throughout the day before closing flat. The sentiment is sideways to weak, with the index closing below the 21-day EMA. The RSI is in a bearish crossover, indicating weak momentum."

The market might continue to be a sell-on-rise as long as it stays below 24,500. On the lower end, support is placed at 24,150, he added.

European markets, meanwhile, traded on a mixed note as investors braced for data packed week including the US inflation print to know about the Federal Reserve's monetary policy stance.