The strong gap up opening on Wednesday morning fizzled out with the Nifty and the Sensex losing steam and ending almost flat. The Nifty closed 10 points up at 5,385, while the Sensex closed 22 points up at 17,753.
“Fear of election results, budget and oil prices have started to play on the minds of marketmen,” said the Head of Research of an Indian brokerage. “And anyway valuations are not favourable to buy stocks at these levels.”
All indices closed flat on a volatile day with the India Vix, the volatility index gaining four per cent to end the day at 26.93.
SAIL, ONGC, Wipro, Sesa Goa and Tata Power were the top five Nifty gainers, while L&T, HDFC Bank, Siemens, Jindal Steel and RInfra were the top Nifty losers.