Sensex ends below 9,000 in volatile trade

The Bombay Stock Exchange 30-share Sensex closed below the 9,000 level even as the market bounced back from its intra-day lows on expectations of further relaxation in monetary policy by the Reserve Bank.
    
The BSE barometer ended the day at 8,966.68, a net fall of 35.07 points or 0.39 per cent from its previous close.
   
The market tested a low of 8,867.13 at the mid-session due to mixed trends in global markets.
    
The National Stock Exchange's 50-share Nifty, however, was flat at 2,807.05 from its last close of 2,807.15.
    
Brokers said the market was fairly volatile during the day amid optimism that the Reserve Bank of India may further ease monetary policy after inflation dropped to a low of 0.44 per cent in the first week of March.
    
FIIs' positive activity in the current week also sparked buying interest in select stocks.
    
Foreign institutional investors pumped in nearly 200 million dollars in equity on March 17 and 18.
    
In Asian indices, the Hang Seng was down 2.26 per cent and the Taiwan Weighted by 1.48 per cent while the Shanghai Composite, Strait Times and Kospi gained nearly one per cent each.