Investors' sentiment remained cautious ahead of earning season,observing wide momentum amidst volatility as the benchmark CNX-Nifty ended almost flat at the National Stock Exchange (NSE) here today. The 50-share Nifty oscillated between a high of 4,758.70 and a low of 4,695.45 before closing at 4,742.80,down 4.10 points,or 0.09 per cent,over its previous close. Trading commenced on a lower note on the backdrop of sluggish Asian cues following renewed eurozone concerns,and drifted further on fresh profit-taking on frontline shares along with banking,fmcg,metal and auto stocks. It further widened on unending selling pressure to slip below the 4,700 mark on domestic growth worries as the Prime Minister's statement yesterday that the country is passing through difficult times and the economic growth in the current fiscal could be seven per cent down from 8.5 per cent last year. The key-index took a sharp turnaround during mid- afternoon trade to remain in green for a while before slipping back to end marginally lower. The rebound was led by pharma,realty,infra and select banking counters. While,energy,auto and fmcg counters remained under selling pressure. PSU counters continued to attract good buying on hope of government disinvestment plan. "Traders are highly cautious to take positions ahead of corporate earning seasons in the midst of growth concerns," traders said. Bharti Airtel,Sesa Goa,SBIN,Coal India,Bajaj Auto,Tata Motors,Wipro,Reliance,Cairn India and BPCL were the top losers from the Nifty. However,BHEL,Cipla,JP Associates,Jindal Steel,IDFC,Tata Power,Maruti,PNB,Sun Pharma and PowerGrid ended with gains. Turnover in cash segment was Rs 8,376.47 crore. A total of 5,825.43 lakh shares changed hands in 54,42,316 trades. The market capitalisation stood at Rs 54,21,414 crore.
