Benchmark indices recovered early losses and ended on a flat note in a highly volatile market on May 3. At close, the Sensex was down 63.84 points, or 0.13%, at 48,718.52, and the Nifty was up 3.10 points, or 0.02%, at 14,634.20.
Among sectors, metal index rose over 2 percent and FMCG index jumped 1 percent, while selling was seen in the banking and energy names.
BSE Midcap index ended flat, while Smallcap index rose 1.5 percent.
"A fantastic recovery led by metals with a host of stocks in the broader markets from sugar to rice to tea and coffee kept the screen lively in a highly volatile trading session. Investors were seen accumulating several largecaps as well as high-quality midcaps across sectors," said S Ranganathan, Head of Research at LKP Securities.
Titan Company, Reliance Industries, IndusInd Bank, Axis Bank and BPCL were among the top losers on the Nifty. Gainers included SBI Life Insurance, Bharti Airtel, Adani Ports, Tata Steel and HUL.
Stocks & sectors
On the BSE, metal, FMCG and power indices added 1 percent each, while bank, oil & gas and realty indices ended in the red.
Among individual stocks, a volume spike of more than 100 percent was seen in SBI Life Insurance, ICICI Prudential and Godrej Properties.
A long buildup was seen in SBI Life, Marico and BHEL, while a short buildup was seen in AU Small Finance Bank, RBL Bank and Bandhan Bank.
More than 250 stocks, including Marico, Persistent Systems and NALCO, hit a fresh 52-week high on the BSE.
The Nifty formed a bullish candle on daily time frame as it closed higher than its opening zones and reclaimed its 50-DEMA.
"The Nifty has to hold 14,600 zones to witness an up move towards 14,800 and 14,880 zones, while on the downside support exists at 14,500 and 14,400 zones," said Chandan Taparia of Motilal Oswal Financial Services.Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.