Odishatv Bureau
Mumbai: The BSE Sensex closed on a flat note for the second day on Tuesday after a highly volatile trading, slipping 16 points on selling in banking and refinery stocks amid investor concerns over high inflation and interest rates.

Consumer durables, capital goods, oil & gas declined, while FMCG and realty firmed moderately.

The 30-share Bombay Stock Exchange index, Sensex, opened higher at 18,564.95 and moved in a wide range of 18,689.37 and 18,429.06 before closing at 18,512.77, down 16.19 points or 0.09 per cent.

The broad-based National Stock Exchange index Nifty closed with a loss of 9.85 points at 5,541.25. It touched the day`s low of 5,514.55 and a high of 5,592.90.

However, global markets, especially in Asia and Europe, were largely in the positive territory.

"The Indian market will largely remain range-bound and choppy in the near term without any clear bias," said Amar Ambani, Head of Research (India Private Clients), IIFL.

He added, however, "Investors ought to focus on stock centric action as the main indices are unlikely to go anywhere in a hurry. The IIP data (on Thursday) and the outcome of the assembly polls (on Friday) may have some sentimental impact on the market."

From the Sensex pack, 17 shares closed in the green, while 13 shares finished with losses.

Among the sectoral indices, the Bankex declined 0.63 per cent, the Consumer Durables (0.60 pc), Capital Goods (0.38 pc), Oil & Gas (0.32 pc) and IT (0.28 pc).

However, the BSE-FMCG shot up 1.20 per cent, Realty (1.12 pc), Power (0.48 pc) and Metals (0.10 pc).

Meanwhile, as per the provisional figures from bourses, FIIs bought shares worth Rs 196.42 crore and domestic funds sold shares worth Rs 125.78 crore yesterday.

Asian stocks ended higher following gains in the US. Markets in China, Japan, Indonesia, Singapore rose between 0.25 per cent and 0.60 per cent, while Taiwan`s fell 0.14 per cent. The South Korea and Hong Kong were closed for public holiday.

European shares moved up in early trade on reports of a possible deal to resolve Greece`s debt crisis. Markets in the UK, Germany and France were up between 1.05 per cent and 1.31 per cent.

As for the Sensex pack, HDFC Bank fell 1.47 per cent, Hero Honda (1.26 pc), M&M (1.23 pc), Tata Power (0.95 pc) and Tata Steel (0.95 pc).

However, HUL shot up 4.46 per cent, NTPC (4.31 pc), Sterlite Ind (2.87 pc), Jaiprakash Asso (2 pc), Reliance Com (1.29 pc), DLF (1.21 pc) and Bajaj Auto (1.07 pc).

The total BSE market breadth continued to show negative trend as 1,410 shares ended with losses, while 1,370 shares finished with gains.

The total turnover improved to Rs 2,516.89 crore from Rs 2,310.14 crore yesterday. State Bank Of India showed the highest turnover of Rs 87.92 crore, followed by Jubilant food (Rs 70.47 cr), SKS Macrofinance (Rs 68.76 cr), Future Ventures (Rs 64.91 cr) and Coal India (Rs 46.02 cr).

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