Nifty ends flat in range-bound trade; down by two points

Bourses traded in a range-bound trade on the first day of 2014, with caution being the prevailing the sentiment, as the CNX Nifty lost a marginal two points at the National Stock Exchange (NSE).
Numbers were thin, as participation by most big institutional investors were still on the sidelines in the absence of definite directions due to holidays in the global market.
Selling in key heavy weights including IT and energy sectors swayed the market, while buying in shares of small- caps and mid-cap companies were also supported by pharma, FMCG and PSU counters, which helped it successfully hold on to the important 6,300-level.

Meanwhile, Foreign Institutional Investors (FIIs) bought shares worth Rs 309.70 crore yesterday, as per provisional data.
The 50-share Nifty hovered between a high of 6,327.20 points and a low of 6,298.25 points before ending at 6,301.65 points, showing a marginal loss of 2.35 points, or 0.04 per cent.
However, the market resumed giving away all its gains amid volatility. The key index slipped again to a fresh intra-day low during the afternoon but managed closed marginally lower.
Major losers were Wipro, BHEL, Tata Power, TCS, Reliance, Kotak Bank, Hindalco, Infy, Tata Motor and Axis Bank, while Bharti Airtel, DLF, Bank of Baroda, Ranbaxy, Asian Paint, JP Associates and PNB cushioned the fall.

Turnover in the cash segment dropped to Rs 6,058.83 crore from Rs 8,415.73 crore yesterday. A total of 5,733.42 lakh shares changed hands in 36,32,799 trades, while market capitalisation stood at Rs 68,99,064 crore.