MUMBAI: The BSE Sensex and Nifty ended flat after hitting their second consecutive record highs in as many sessions as blue chips such as Larsen & Toubro extended recent gains bolstered by buying from foreign institutional investors.

Overseas investors have helped underpin gains, buying shares worth 14.65 billion, with net purchases in shares reaching $2.27 billion so far this month, according to regulatory data.

However, sharp falls in Reliance Industries Limited and Oil and Natural Gas Corp following an unexpected request by the Election Commission late for the government to defer a rise in gas prices, prevented any meaningful upside.

Traders are seen locking some profits in the coming days after the BSE Sensex's near 4.4 percent gain in March so far, ahead of eventful next few weeks with the Reserve Bank of India's policy review on April 1, the general elections due to conclude by May, and the expiry of equity derivative contracts.

"It's normal to see market trading with flattish tone ahead of F&O expiry as traders' focus shifts to rollover and unwinding of positions. But, it would be over soon and we expect that the markets will resume the prevailing uptrend," said Jayant Manglik, president - retail distribution at Religare Securities Limited.

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