Investors chary of market direction

Mumbai: Benchmark indices Sensex and Nifty closed flat in a volatile trade on Tuesday amid bouts of buying and selling in select heavyweight stocks. The 30-share BSE Sensex edged up 1.59 points to close at 81,510.05 with 16 of its components closing higher and 14 ending lower. The index opened flat and climbed 217.88 points or 0.27 per cent to hit an intraday high of 81,726.34 in the first half. However, the index fell 325 points to hit a low of 81,508.46 due to profit booking in the second half.

A recovery in select heavyweights Infosys, ICICI Bank and SBI helped it recover losses in the pre-close session. Falling for the third day, the NSE Nifty dropped by 8.95 points or 0.04 per cent to settle at 24,610.05. In the intraday trade, it slipped 108.35 points or 0.44 per cent to hit a low of 24,510.65.

“The domestic market concluded on a flat note, a rebound from the lows suggests buy-on-dip strategy,” Vinod Nair, head (research), Geojit Financial Services.