A lackluster session, global cues to blame: Udayan

Today was yet another volatile session that ended flat around 5,250-5,260. "Morning though was not good, apprehensions of very weak European opening post the Greek news overnight led to the Nifty going down to test that 5,200 level yet again but it managed to find support and by the fag end of the session clawed back to close absolutely flat," CNBC-TV18's managing editor Udayan Mukherjee said.

Europe actually was quite weak at open but it recovered as news came in on the Greek government potentially having lost its majority. That led to hopes that the referendum might not be pressed for now, on the back of which, markets stabilised. What was buzzing? BHEL did quite well on news that there could be duties for imported power equipment. That was one of the winners. Reliance Communication and Bharti were up. DLF too did quite. Conversely, stocks like Lever and Tata Motors slipped a bit and all metal stocks were down, SAIL being the biggest disappointment on the back of dismal results. The breadth was not special and volumes were lackluster today. But individual midcap clusters did well. PFC and REC were big movers today. Allahabad Bank had a good run. Orchid Chemicals stood out. Sun TV and OnMobile Global and stocks like BGR and Exide were smart gainers today. Sugar didn't have a good session. So names like Bajaj Hindustan and Renuka were down. Indiabulls Finance, Educomp, Jaypee Infra, VIP Industries all closed down today. For the last two days, the Nifty has pretty much done nothing. It's spent time just circling around that 5,250 mark, not making too much headway as it soaks in the intense amount of volatile news coming through from the European spheres.