Global cues were mixed. Rise in crude oil prices also weighed on the sentiment. Nu Tek India debuted at Rs 201.10, a premium of 4.73 per cent over the initial public offer price. Volatility may remain during the next two days, ahead of the expiry of derivative contracts for the August 2008 series on August 28, brokers said.
As per reports, marketwide rollover of positions from August 2008 series to September 2008 series stood at 40 pc, while that of Nifty index of National Stock Exchange (NSE) was at 37 pc, as on yesterday.
Later, the BSE 30-share Sensex was down 26.13 points, or 0.18 pc, to 14,456.37. It opened 80.88 points higher at 14,563.10, which is also its high so far in the day. Sensex hit a low of 14,427.43 in the early trade. The S &P CNX Nifty index of NSE resumed nearly flat at 4,336.85. Later it also slipped 12 points to 4,337.50 points from its last close of 4,337.50.
Among the heavyweight stocks, Oil &Natural Gas Corporation (ONGC) gained 0.91 pc to Rs 1,024.70 after British oil and gas explorer Imperial Energy said its management has agreed to a takeover from ONGC worth 1.4 billion pounds (USD 2.6 billion).
Among the other gainers were Jaiprakash Associates, which rose by 1.60 pc to Rs 159.35 on 4.07 lakh shares. It was the top gainer. It was followed by Tata Steel (up by 1.17 pc) to Rs 584.30 and ACC (up by 0.75 pc) to Rs 564.70.
But Bharti Airtel declined 1.65 pc to Rs 796.40 on 48,653 shares.
It was the top loser. It was followed by Bharat Heavy Electricals (down by 1.27 pc) to Rs 1,699.80, DLF (down 1.26 pc) to Rs 491.75 and Satyam Computer Services eased 1.23 pc to Rs 401.10.
India's largest private sector firm by market capitalization and oil refiner, Reliance Industries Ltd (RIL), fell by 0.80 pc at Rs 2,163 on 1.66 lakh shares. The stock moved in a range of Rs 2,159 and Rs 2,198 so far during the day.
Nu Tek India was trading at Rs 200.95 on BSE, a premium of 4.66 pc over the initial public offer (IPO) price of Rs 192. The stock debuted at Rs 201.10, a premium of 4.73 pc over the IPO price. The stock hit a high of Rs 225 and a low of Rs 94 so far during the day.
On BSE, 40.35 lakh shares were traded on the Nu Tek India counter.