**Moneycontrol News**

The S&P BSE Sensex closed flat after witnessing a volatile day of trade on Wednesday which was largely weighed down by concerns over Italy’s political crisis and renewed trade war fears which pushed stock markets across the globe lower.

The S&P BSE Sensex closed 43 points lower at 34,906.11 ahead of May F&O expiry on Thursday while the Nifty50 managed to hold above 10,600 to close at 10,614, down 18.95 points.

The possibility of fresh general election and Eurosceptic political parties strengthening their vote share has raised concerns about stability in the Eurozone.

Italy is Eurozone’s third-largest economy and has been weak for several years. The country’s debt currently stands at 130 percent of its economic output. The recent developments have led to nervousness in the European and global markets.

“Italy’s political paroxysms have sent jitters across most asset classes including equity, bonds, currencies as well as commodities,” Gaurang Somaiya, Analyst - Currencies, Motilal Oswal Commodities told Moneycontrol.

“This uncertainty has caused fears amongst market participants raised and questions that ‘Will Italy stay in the Euro bloc?’ Stocks across the globe fell following fear that escalating crisis in Italy could deepen further,” he said.

On the sectoral front, the S&P BSE Power index rose 0.2 percent, followed by the S&P BSE Metal index which gained 0.15 percent, and the S&P BSE Banking index rose 0.1 percent.

On the losing front, the S&P BSE Healthcare index which dropped 0.7 percent, followed by the S&P BSE Infrastructure index dropped 0.71 percent, and the S&P BSE Capital Goods index was down 0.68 percent.

The S&P BSE Midcap index rose marginally by 0.03 percent, and the S&P BSE Smallcap index slipped 0.19 percent.

Top Sensex gainers include names like M&M (up 3.08 percent), Coal India (up 2.3 percent), Kotak Mahindra Bank (up 1.4 percent), and Yes Bank (up 1.3 percent).

Top Sensex losers include names like Tata Motors DVR (down 2 percent), followed by Tata Motors (down 1.9 percent), ICICI Bank (down 1.8 percent), and Bajaj Auto (down 1.1 percent).