The Indian equity benchmark closed with minor gains in yet another volatile session on November 16, with the Sensex ending 107.73 points, or 0.17 percent, higher at 61,980.72 and the Nifty gaining 6.30 points, or 0.03 percent, at 18,409.70.
After a muted start following mixed global cues, the Indian market gyrated between gains and losses. The Sensex and the Nifty crossed 62,000 and 18,400, respectively, but failed to extend the rally.
"As the domestic market has started to trade around the all-time high levels, it is trending indecisively following the recent geopolitical tensions and weak performance by global counterparts," said Vinod Nair, Head of Research at Geojit Financial Services.
Though domestic macroeconomic indicators and FII inflows were favourable, given the high valuations, domestic markets could remain cautious in the short to medium term, he said.