Indian equity benchmarks settled on a flat note on
Thursday, with the Sensex falling 8 points as fag-end volatility wiped out
intra-day gains amid tepid global trends.

The BSE Sensex fell 8.03 or 0.02% to close at
53,018.94.  During the day, it had surged
350.57 points, or 0.66% to 53,377.54. The NSE Nifty slipped 18.85 points or
0.12% to 15,780.25.

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The broader indices ended in the red as the BSE Mid cap
index was down by 0.74% and the Small-cap index was down by 0.54%. On the
sectoral front, Power is up by 0.79%, Bankex up by 0.62%, Utilities up by
0.59%, and Capital Goods up by 0.18%, while Metal down by 2.18%, Auto down by
1.25%, Basic Materials down by 1.20%, Realty down by 1.17% and Consumer Disc
down by 0.90% were the top losing indices on BSE.

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Major laggards from the Sensex pack were Tech Mahindra down
by 2.09%, Bajaj Finance down by 2.00%, Bajaj Finserv down by 1.74%, Tata Steel
down by 1.65%, and IndusInd Bank down by 1.61%.

Among the gainers were Axis Bank up by 1.74%, SBI Bank up
by 1.38%, Kotak Mahindra up by 0.92%, NTPC up by 0.88%, and Larsen up by 0.59%.

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The rupee rebounded from its all-time low to close 5 paise higher at 78.98 against the US dollar.

In the Asian markets, Tokyo, Seoul, and Hong Kong settled
lower, while Shanghai ended in the green.

European markets were trading down in the mid-session
deals.

The US stock markets ended on a mixed note on Wednesday.

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“Asian and European markets struggled to regain
footing amid global recession fears, leading to a resurgent US dollar, which
benefitted from safe-haven demand. FII selling nearing exhaustion provided
comfort to the jittery Indian market,” said Vinod Nair, Head of Research
at Geojit Financial Services.

Brent crude, the international oil benchmark fell 0.04% to
$116.2 per barrel.

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According to stock exchange data, foreign institutional
investors (FIIs) remained net sellers in the capital market, as they sold
shares worth Rs 851.06 crore on Wednesday.