Mumbai: The markets bounced back on Thursday and the benchmark Sensex today slightly eased by 9.44 points on the Bombay Stock Exchange to close nearly flat at 9645.46 in a session marked by choppy trade.
Aiding the rebound was Commerce Minister Kamal Nath 's statement that government will consider another financial assistance package for the export sector next week.
"There has been one package been announced on Saturday last. There will be another package and these will continue. We do not want to wait until we have the whole thing ripe and ready. We are looking at the employment generating sector, we are looking at the financing needs of companies," said Commerce Minister Kamal Nath.
The Nifty index of NSE was down by a nominal 8.10 points to settle at 2920.15.
Recovery in the last half an hour of trade was led by Reliance Industries, Reliance Petroleum, Bharti Airtel, SBI, ICICI Bank, L&T, and metal stocks. Midcap and small cap stocks remained in positive terrain throughout the session.
They included shipping, infrastructure, financial and sugar stocks. However, technology stocks, BHEL, ONGC, HDFC and HDFC Bank closed in red.
Markets had started the day on a slightly higher note and volatility marked the trade till afternoon. After mid session, indices had slipped into red following weak European markets and in last half an hour of trade, they have managed to show smart recovery, a leading broker said.
The market breadth was strong, as data showing further fall in inflation raised hopes of further cuts in interest rates by the central bank.
On BSE, 1576 shares advanced as compared with 914 that declined. 92 shares remained unchanged. The total turnover on the BSE amounted to Rs 4626 crore as compared to Rs 3362 crore, the previous day.
(With inputs from CNN IBN and UNI)
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