The benchmark CNX Nifty managed to pare heavy losses following late bouts of value buying in key heavyweights to end almost flat by marginally losing 4.45 points to 8,130.65 at the National Stock Exchange (NSE).
The trading momentum was mostly sluggish initially amid see-saw momentum due to the absence of any definite trigger, later witnessed heavy sell-off following sharply lower European opening amid renewed concerns of Greek default, making the key indices drop over 78 points to quote at 8,056.75.
However, final hour value-buying in realty, energy, infra, IT and finance sector stocks, supported the bourses.
Rate sensitive counters continued to pull down the market, led by PSU banks, auto, metals, followed by FMCG and pharma segments, shares of the mid-cap and small-cap companies also traded lower.
The 50-share Nifty resumed higher at 8,155.15 and hovered in a range of 8,160.05 and 8,056.75 before ending at 8,130.65, showing a marginal loss of 4.45 points, or 0.05 per cent.
Major Nifty losers were NMDC (4.48 per cent), PNB (3.34 per cent), Tata Steel (2.59 per cent), Lupin (2.52 per cent) and ONGC (2.18 per cent).
While, the gainers include BPCL (3.28 per cent), Bosch Ltd (2.17 per cent), Reliance (1.82 per cent), Tech Mahindra (1.81 per cent), Ambuja Cement (1.42 per cent).
Meanwhile, foreign portfolio investors sold shares worth a net Rs 727.61 crore yesterday, as per provisional data.
Elsewhere, most Asian stocks ended higher, while European markets witnessed a weak opening following a spike in bond yields amid renewed concerns over a potential Greek default.
Turnover in the cash segment dropped to Rs 15,660.88 crore from Rs 18,912.94 on Tuesday. A total of 9,841.56 lakh shares changed hands in 74,66,515 trades and the total market capitalisation of the NSE stood at Rs 95,82,408 crore.