Sensex ends nearly flat, regains 18K

In a narrow but volatile movements, thebenchmark Sensex closed nearly flat with upward bias, regaining 18K-level onshort coverings in recently battered some of the capital goods and bankingcounters just two days ahead of the expiry of May contracts, despite positiveAsian and European cues.

Foreign Institutional Investors (FIIs) continued theirselling for the eighth session in a row since May 12 and they pulled out Rs293.56 crore on Monday as per provisional data.

The Bombay Stock Exchange 30-share indicator touched a highof 18,110.39 in afternoon deals on firm Asian as well European stocks but fellback to a low of 17,933.94 on late profit-booking before settling at 18,011.97,showing a mere gain of 18.64 points or 0.10 per cent.

On Monday, it had tumbled by nearly 333 points or 1.82 percent to close below 18K-level to 2-month low at 17,993.33.

The NSE 50-issue Nifty also touched a high of 5,422.60 inmid-session trade but finished at 5,394.85, a net rise of 8.30 points or 0.15per cent. On Monday, it had plunged by about 100 points or 1.82 per cent.

Rise in L&T, ICICI Bank, RIL, TATA Steel and InfosysTech mainly supported the market to land positive terrain at close while fallin ITC, SBI, TCS, HDFC Bank and ONGC limited the gains.

Lack of confidence on global as well as local front due tosome negative factors mainly kept the investors away from the market to makeany major commitments, he added.