At 1203 hours, the 30-share BSE index came back to its base level, down 14.19 points, or 0.04 per cent, at 33,926.11.
Market breadth was positive with 1,122 advances against 551 declines. Sensex was down by over 16 points or 0.05% to 33,924.19 while the wider Nifty was down by over 2 points or 0.02% to 10,490.85. The rupee opened at 64.03 a dollar and was trading at 64.02 a dollar, up 0.03 percent from its Friday's close of 64.06. In the last two trading sessions, the stock has surged over 80%. Broader markets stood out as the mid-cap index rose for the eighth straight session, this time 0.76%, ending at a record. Foreign portfolio investors (FPIs) bought shares worth a net Rs 107.87 crore while domestic institutional investors (DIIs) had also purchased equities worth a net Rs 371.53 crore on Friday, as per provisional data.
"The rally could stretch well beyond January as third-quarter results expectations are good and the global set-up is supportive", Hemang Jani, head of advisory, Sharekhan, said, adding that the brokerage continues to believe in themes including consumption, banks and NBFCs, beneficiaries of GST implementation and sectors like roads, railways and defence, which are dependent on government capital expenditure.
On the currency front, the Indian rupee weakened by seven paise to close at 64.15 against the United States dollar from its previous close at 64.08.
Volatility index India VIX rose over 3%.
Major gainers in the 30-share index were Sun Pharmaceutical Industries (2.88%), NTPC (1.21%), Cipla (1.07%), Tata Motors (1.03%), Oil & Natural Gas Corporation (0.83%), and Hindustan Unilever (0.79%).
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