Indian shares ended flat Thursday after a choppy session and are expected to move sideways until key players, foreign fund managers, get back from year-end holidays next week.
"The next trigger will be provided by (earnings) results in January. Markets are also waiting for participation from foreign institutional investors," said Parth Dave, a dealer at Asit C. Mehta Investment Intermediaries. Indian companies will unveil third-quarter earnings in January.
The Bombay Stock Exchange's 30-stock Sensitive Index, or Sensex, fell 13.35 points, or 0.1 percent, to 13,846.34, off an intraday high of 13,960.39.
On the National Stock Exchange, the 50-stock S&P CNX Nifty fell 3.70 points, or 0.1 percent, to 3970.55.
Software major Tata Consultancy Services ended 1.1 percent higher at 1,208.65 rupees and was tipped higher by a dealer, who said the stock is likely to gain further ahead of anticipated robust third-quarter results.
Dr. Reddy's Laboratories ended 1 percent lower at 99.55 rupees, but is likely to bounce back as the U.S. drug regulator's approval of its generic version of Zofran is likely to result in earnings per share rising by up to INR10, a local analyst said.
Tata Steel ended 1 percent lower at 476.50 rupees in low volume.