Mumbai: It was a lacklustre session for the markets, as it remained choppy throughout the day, after a sharp rally seen in Friday's trade.
The benchmark indices closed flat. The Nifty has tried number of times to get back above 2700 mark and in the final trade, it managed to close above the same level.
Global cues were mixed, as Asian markets ended weak while European indices were trading sharply higher. US markets futures were also trading in green.
The Sensex shed just 12.09 points or 0.14 per cent, to close at 8,903.12, after swinging between an intraday high of 9,042.02 and low of 8,701.93. However, the 50-share NSE Nifty shut shop at 2708.25, up 0.55 per cent or 14.80 points over previous close.
The BSE Midcap Index was down 14.37 points or 0.49 per cent at 2,902.29 and the Small Cap Index fell 26.80 points or 0.79 per cent to 3,363.96.
Among the frontliners, Satyam, ICICI Bank, DLF, M&M, SBI, Unitech, Suzlon Energy and Tata Communication were down 3-9 per cent. However, Reliance Infrastructure, Maruti Suzuki, Tata Power, TCS, Bharti Airtel, Reliance Power, GAIL, NALCO, Idea Cellular and HCL Tech rose 2.5-6 per cent.
Market breadth was weak; about 1,136 shares have advanced while 1,490 shares have declined. Nearly 570 shares are unchanged.
Rate sensitives remained under pressure in today's trade. Bank and Realty indices closed lower by 3 per cent.
BSE Realty Index was down by 62.12 points or 3.78 per cent at 1,583.30. Unitech plunged 9.11 per cent and DLF fell 3.81 per cent.
Bankex fell 144.22 points or 3.14 per cent to 4,454.68. ICICI Bank, Axis Bank, SBI, HDFC Bank and PNB lost 2.7-3.9 per cent.
Metal stocks like JSW Steel, Jindal Saw, Tata Steel, Sterlite Industries, JSL, SAIL and Hindalco were losers. BSE Metal Index lost 67.87 points or 1.55 per cent to 4,309.73.
Capital Goods Index ended flat at 6,554.72. BHEL gained 1.56 per cent while L&T lost 0.20 per cent.
However, power stocks like Power Index gained 30.80 points or 1.94 per cent at 1,619.44. Reliance Power, Reliance Infrastructure, Tata Power, Power Grid Corp, Torrent Power and NTPC rose 2-6 per cent. However, Suzlon Energy was down 5.63 per cent.
BSE Oil & Gas Index was up by 75.78 points or 1.37 per cent at 5,626.67. Reliance Industries was up 1.56 per cent while ONGC fell 1.61 per cent. Oil marketing companies like IOC, HPCL and BPCL gained 3-7 per cent. Crude was trading at around $50 to a barrel on the NYMEX.
FMCG Index rose 20.66 points or 1.09 per cent to 1,908.41. United Spirits, Marico, Britannia, Godrej Consumer and ITC were gainers.
Telecom stocks like Idea Cellular was up 4.19 per cent and Bharti Airtel gained 2.73 per cent. However, Tata Communication lost 3.91 per cent and Reliance Communication fell 0.63 per cent.
Pharma stocks like Healthcare Index went up by 17.40 points or 0.62 per cent to 2,830.10. Dr Reddys Labs, Wockhardt, Cipla and Glenmark ended in green.
Auto Index gained 9.23 points or 0.40 per cent at 2,314.35. Maruti Suzuki and Hero Honda were up over 3 per cent. However, M&M fell 3 per cent.
IT Index ended at 2,462.95, up 0.22 per cent or 5.40 points over previous close. HCL Tech, TCS, Wipro and Infosys were gainers while Tech Mahindra and Satyam were losers.
Among the midcap stocks, Bhushan, Sadbhav Engg, Redington, Adhunik Metalik and Bombay Rayon lost 9-13 per cent.
In the small cap space, Mukta Arts, PVP Ventures, Electrotherm, Nahar Industrial and Arihant Foundation plunged 12-16.5 per cent.
Total traded turnoved stood at 57,920.55 crore. This includes Rs 8,500 crore from NSE Cash segment, Rs 46,218.94 crore NSE F&O and the balance Rs 3,201.61 crore from BSE Cash segment.
On the global front, Asian markets finished weak. Shanghai lost 3.67 per cent and Kospi fell 3.35 per cent. Straits Times went down 2.52 per cent and Hang Seng fell 1.59 per cent. Jakarta and Taiwan closed marginally in red. Japan's Nikkei was shut today.
However, European markets were trading sharply higher, as Citigroup received rescue package. FTSE 100 was up 175.61 points or 4.64 per cent to 3,956.57, at 3:42 hours IST. CAC 40 gained 140.69 points or 4.88 per cent at 3,021.95 and DAX surged 163.32 points or 3.96 per cent to 4,290.73.
Dow Jones Futures was up 79 points at 8,115 and the Nasdaq Futures gained 14.25 points at 1,105, at 3:42 hours IST.
Citigroup received $20 billion cash and $306 billion loan guarantee from US government.
StanChart planned to raise $2.7 billion via rights issue. Its rights issue price fixed at 390 pence per share, 48.7 per cent discount to last closing price.
President-elect Barrack Obama is expected to announce his economic team. US existing home sales will be announced as well.
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