The stock market benchmark Sensex on Friday came tantalisingly close to the 18,000-point mark for the second time in a week on expectations of an interest rate cut but receded later on profit booking to close almost flat.

In high level of volatility, the Bombay Stock Exchange barometer fluctuated erratically before ending the day at 17,773.36, down 3.78 points from last close of 17,777.14. The BSE barometer touched a low of 17,708.80 during the day and a new intra-trade peak of 17,979.18, less than 21 points away from the milestone, during late afternoon trading. The market saw wild movements during the last one hour after news that the government has asked bankers to re-look at their interest rates to stimulate growth, market players said.

The broader S&P CNX Nifty of the National Stock Exchange (NSE), however, dipped by 22.80 points or 0.44 per cent to end at 5,185.85 from previous close of 5,208.65. Foreign Institutional Investors (FIIs) were believed to be selective buyers in front-line counters while domestic MFs remained net sellers consistently.