Indian shares prices closed flat Thursday in volatile trade amid investor fears over government stability after the head of the ruling Congress party resigned from parliament, dealers said.
They said the index lost some ground after Congress chief Sonia Gandhi resigned her parliamentary seat in response to allegations that she held other salaried posts that prohibited her from serving in the legislature.
The 30-share Sensex index fell 0.76 points, or 0.01 percent, to 10,840.59.
"The markets were volatile after opening strong early morning. We saw some weakness following the political news, but markets may not react much on this issue," said Soumeel Chakravarthy of brokerage KJMC Capital Market Services. Losers led gainers 1,438 to 1,084 on record volume of 71.43 billion rupees (1.6 billion dollars).
Software, automobile and bank stocks fell in late afternoon trade, with the index shedding 60 points following the political news. The markets recovered and closed down marginally, dealers said.
India's largest software exporter, Tata Consultancy Services, fell 20.45 rupees, or 1.08 percent, to 1,873.15. Housing lender HDFC Bank fell 16.4 rupees, or 2.17 percent, to 740.75. India's largest car maker, Maruti Udyog, fell 10.1 rupees, or 1.2 percent, to 837.1.
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