Sensex closed flat with a gain of seven points.

The benchmark index opened on a positive note at 24,592 against the previous close of 24,550. It made a high of 24,643 and low of 24,489 before closing at 24,556.

On NSE, the Nifty was up 12 points at 7,330.

The market may remain volatile on Thursday as traders roll over futures and options positions segment from May to June series. The May derivatives contract will expire on Thursday.

The turnover on BSE was lower at Rs 3,952 crore against Rs 4,150 crore recorded on Tuesday.

Shares of private sector banks edged higher while that of PSU banks declined. Axis Bank and ICICI Bank were up one per cent each to Rs 1,861 and Rs 1,456. Other stock which was up include HDFC Bank (2%). IndusInd Bank and Kotak Mahindra Bank were down a tad.

Among PSU banks State Bank of India (-1%), Punjab National Bank (-2%), Union Bank of India (-2%), Bank of India (-1%) and Bank of Baroda (-1.57%) were down.

Shipping Corporation shares jumped 15 per cent after it reported net profit of Rs 13.24 crore in the March quarter against net loss of Rs 281 crore. The result was announced after market hours on Tuesday. Net sales rose 25 per cent to Rs 1,204 crore.

Some of the prominent gainers were Power Finance (8%), South Indian Bank (7%), Gujarat Mnrl (7%), Muthoot Financne (7%), Unitech (6%), Oriental Bank (6%), Gitanjali Gems (6%) and Ambuja Cements (5%).

Major losers were Jet Air India (-8%), Dish TV India (-5%), Syndicate Bank (4%), Engineers India (-4%), HPCL (-4%), Wockhardt (-4%), Glaxosmithkl Cons (-4%) and JP Power (-4%).

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