Nifty ends with moderate gains amid volatility

Indian equity benchmarks closed the session with moderate gains amid consolidation on Thursday, especially after a sharp spike up of 3.5% seen in equities on Tuesday. The Nifty has seen a big swing of 103 points in intra-day trade due to Libya worries.

The market started trade with negative bias on profit booking as well as rise in brent crude oil prices to USD 106 a barrel. However, benchmarks showed sharp recovery in afternoon trade after the news that Libyan leader Muammar Gaddafi accepted peace plan to end crisis in North African country, according to agencies. But again there were reports from agencies that fresh air strike has hit Brega oil terminal in East Libya, reports CNBC-TV18. So there was no confirmation on any news related to Libya.

Fairly sceptical of the peace plan, Jason Feer vice-president and Singapore bureau chief at Argus Media too said, "We are yet to hear the government