The BSE Sensex today bounced back in the last 30 minutes of trading after hitting a three-week low and ended flat in choppy trade.
Firm European stocks helped the Indian bourses bounce back after the benchmark Sensex touched the day's low of
14,016.95, down 309.27 points, in step with extremely weak Asian markets.
The Bombay Stock Exchange 30-share barometer ended the day at 14,324.01 against its previous close of 14,326.22.
Reliance Industries, with the highest weight in the Sensex, facilitated the bounce-back as it surged by Rs 114.95
from its intra-trade low of Rs 1,901.10.
RIL closed 3.26 per cent up at Rs 2,016.05, after reports came that NTPC may buy RIL gas at USD 4.2 per million British
thermal units except for the projects under dispute in court.
The initial slide in the market was attributed to extremely weak Asian cues. Asian indices ended down 2-3 per
cent except the Shanghai Composite, which was flat.
Bonanza Portfolio Assistant Vice-President Avinash Gupta said: "The Indian and Shanghai stocks ended nearly flat while
other Asian stocks exchanges saw significant falls. After making aggressive purchases recently, foreign institutional
investors turned net sellers and pulled out more than Rs 1,700 crore last week."