Mumbai: The NSE benchmark Nifty ended flat in a volatile session with negative bias, down 5.55 points on selling mainly in PSU bank, metal, pharma and financial service. Investors turned cautious ahead of the two-day US Federal Reserve monetary policy meeting that begins on Tuesday.

Overseas, European and Asian stocks were mixed as investors awaited clues from the Fed on future monetary policy. US stocks registered fresh record closing high on Monday.

The Nifty opened higher at 10,175.60 and later hit a fresh record high of 10,178.95 before closing at 10,147.55, marginally down 5.55 points, or 0.05%. It saw an intra-day movement of about 49.00 points. On the sectoral front, PSU bank fell 0.79%, metal 0.72%, pharma 0.49% and finance service 0.27%. However, realty rose by 0.88%, auto 0.59%, private banks 0.24%, energy 0.27%, FMCG 0.27%, media 0.22% and IT 0.05%.

Major index gainers were GAIL, Tata Motors, Infratel, TataMtrDvr, Kotak Bank, BPCL and Ambuja Cement. Losers were Coal India, AuroPharma, SunPharma, HDFC, Hindalco, and Eicher Motors. The broader indices managed to hold ground, as the Nifty Midcap and Smallcap indices posted gains of 0.05% and 0.22%, respectively.

The market breadth, indicating the overall health of the market, showed the gainers taking a slight lead over the losers. On the NSE, 844 stocks advanced, compared with 847 stocks declining and 76 stocks remaining unchanged. Total securities that hit their price bands were 148. Turnover in the cash segment eased to Rs28,638.18 crore from Rs28,780.71 crore on Monday. A total of 16,075.71 lakh shares changed hands in 9,668,454 trades. The market capitalisation of listed firms on the NSE stood at Rs135.21 trillion.