The key stocks ended almost unchanged, after witnessing a bout of volatility ahead of today's expiry of April 2008 derivative contracts. The market was firm in first half but faltered in latter part of the trading session. The BSE Sensex eased below 16,700 mark, while the S &P CNX Nifty slipped below 5,000 mark in late trade. The market breadth turned negative after strong start. IT and engineering stocks gained on fresh buying.
Global cues were mixed. US markets settled with gains yesterday.
Asian markets were trading mixed. European markets, which opened after Indian markets, extended early losses.
The 30-share BSE Sensex was up by 23.04 points or 0.14 per cent (pc) at 16,721.08 at the end of the session from its last finish.
It lost 29.44 points at day's low of 16,668.60 hit in mid-afternoon trade. Sensex hit a high of 16,844.02 in early trade.
The broader based S &P CNX Nifty of NSE lost 22.95 points or 0.46 pc at 4,999.85. it resumed flat at 5022.90 points but later recorded the day's high at 5072.70 and a low at 4991.85 points during the session.
It was a choppy day of trade for the markets, it was calm for major part of the day but volatility creeped in the final hour of trade.
It finally ended flat on the F&O expiry day. Nifty slipped below the 5,000 mark. Buying support was seen in select IT and FMCG stocks.
Technology, realty, capital goods, telecom and banks stocks ended flat, while Metals, Power, and oil stocks closed weak. Broader markets slipped and closed in red.
On the global front, Asian markets ended mixed and European markets were trading weak. About 1329 shares have advanced, 1542 shares declined, and 207 shares are unchanged. The BSE indices showed a mixed trend as BSE IT index rose by 66.67 points and ended firm at 4049.52 points, followed by CG index by 49.46 at 13,820.43, BANKEX index by 29.59 at 8582.05 points, FMCG index by 17.74 at 2389.88 points and TECK index by 14.39 at 3291.40 points.
But a few BSE index declined like METAL index by 183.67 points and closed low at 15,364.43 points followed by PSU index by 119.99 to 7723.76, MID CAP Index by 62.01 at 7,004.10. Small cap Index ended low by 58.85 points at 8,741.01, POWER Index by 19.88 to 3280.02 points and REALTY index by 19.04 points at 8037.13 points.
The NSE cash turnover was at Rs 15504.72 crore and the NSE F&O turnover was at Rs 50958.06 crore. The BSE cash turnover was Rs 5433.59 crore. Total market turnover was at Rs 71896.37 crore.