Sensex ends nearly flat, regains 18K-level

Mumbai: In a narrow but volatile movements, the benchmark sensex closed nearly flat with upward bias, regaining 18K-level on short coverings in recently battered some of the capital goods and banking counters just two days

ahead of the expiry of May contracts, despite positive Asian and European cues.

Foreign Institutional Investors (FIIs) continued their selling for the eighth session in a row since May 12 and they pulled out Rs 293.56 crore yesterday as per provisional data.

The Bombay Stock Exchange 30-share indicator touched a high of 18,110.39 in afternoon deals on firm Asian as well European stocks but fell back to a low of 17,933.94 on late profit-booking before settling at 18,011.97, showing a mere

gain of 18.64 points or 0.10 per cent.

On Monday, it had tumbled by nearly 333 points or 1.82 per cent to close below 18K-level to 2-month low at 17,993.33.

The NSE 50-issue Nifty also touched a high of 5,422.60 in mid-session trade but finished at 5,394.85, a net rise of 8.30 points or 0.15 per cent. on Monday, it had plunged by about 100 points or 1.82 per cent.

Rise in L&T, ICICI Bank, RIL, TATA Steel and Infosys Tech mainly supported the market to land positive terrain at close while fall in ITC, SBI, TCS, HDFC Bank and ONGC limited the gains, a broker said.

Lack of confidence on global as well as local front due to some negative factors mainly kept the investors away from the market to make any major commitments, he added.