Indian equity benchmark -- Nifty ended flat with positive bias on Monday, driven by buying in IT & Tech stocks. Index made gap-down start as renewed US-Iran conflict and the concerns over Strait of Hormuz have pushed crude oil price above $111 mark. Further, traders were cautious with Commerce Secretary Rajesh Agrawal’s statement that India's merchandise exports with the West Asian region declined by over 28 per cent in April, amid severe disruptions in ship movements following the war involving the US, Israel and Iran. But, in late morning session, market started paring loss on account of value buying. Some encouragement came with renewed foreign fund outflow. According to exchange data, foreign institutional investors bought equities worth Rs 1,329.17 crore on May 15. In late afternoon session, Index recovered its all loss and ended in green terrain.
