Sensex ends flat on volatile trade
The BSE Sensex closed 7.01 points up at 11,086.03, while the NSE Nifty settled 3.35 points up at 3,325.00.india Updated: Mar 28, 2006 19:31 IST
The Bombay Stock Exchange benchmark index on Tuesday ended flat after touching yet another intra-day peak of 11,146.85 points in highly volatile trade.
Institutional investors and traders were engaged in squaring up of positions due to year-end considerations, as well as approaching expiry of derivatives contract.
The BSE's 30-share Index (sensex) also ended at an all-time closing peak of 11,086.03, modestly up by 7.01 points over yesterday's close of 11,079.02 after moving erratically between 11,146.85 and 11,051.13.
Domestic mutual funds as well as operators and traders heavily squared up positions in view of approaching end of the current financial year, market players said.
Selling pressure was also attributed to the expiry of the Futures and Options (F&O) contract on Thursday.
Foreign Institutional Investors (FIIs) too slowed down inflows during the day. FIIs were consistent net buyers and reported net purchases of Rs 4,969 crore so far in the month.
Mutual funds seemed to be engaged in negative acitivity due largely to year-end considerations despite having lot of investible fund in hands and potential to make purchases even at the prevailing price levels, they added.
Domestic mutual funds reportedly have raised more than Rs 17,000 crore through various unit schemes.
Heavyweights like Infosys Tech, ONGC, HDFC, Wipro and Maruti Udyog scored impressive gains enabling the market to end in positive territory.
RIL, L&T, BHEL, Dr Reddy's Lab, Hero Honda, ICICI Bank, SBI, Tata Power, ACC and Satyam Computer showed sharp falls.
First Published: Mar 28, 2006 10:41 IST