Market fails to retain early gains, Nifty ends flat

Mumbai, Feb 7 (PTI) The initial bullishness failed tosustain at higher levels as the bourses succumbed to fag-endprofit taking, though the benchmark S&P CNX Nifty managed toend the volatile session virtually flat at the National StockExchange (NSE) here today.

The 50-share index shuttled between 5,440.35 and 5,376.95before settling at 5,396.00, with a mere 0.25 gain over itsprevious close.

Showing some strength after a steep fall witnessed onlast Friday, the session commenced on positive note supportedby firm overseas. But the recover was shortlived as marketimmediately turned volatile due profit-taking in heavy weightsand traded range bound for rest of the day.

A strong pull back attempt in mid-afternoon trade onceagain lifted the key index to trade above the important 5,400level before slipping into red on fresh wave of selling.

However, buying in some frontline and tech counters finallypushed the market to stay in green.

Suzlon, JP Associates, Hero Honda, ITC, DLF, NTPC, JindalSteel, Infosys Tech, ACC and BPCL were the top gainers fromNifty.

However, PNB, Cipla, Wipro, Ranbaxy, L&T, ICICI Bank,HDFC, TCS, GAIL and Sun Pharma were the notable losers.

Total turnover in the cash segment dropped to Rs 10,777crore from Rs 13,569.72 crore last Friday. A total of 5,614.42lakh shares changed hands in 50,47,416 trades. The marketcapitalisation stood at Rs 63,38,005 crore.