Sensex ends flat ahead of budget

Stocks opened on a strong footing on increased foreign capital inflows and a firming global trend on relief over Greek debt deal and as US Federal Reserve hinted that a rate hike is unlikely before June.



By (PTI)

Published: Fri 27 Feb 2015, 12:00 AM

Last updated: Thu 25 Jun 2015, 9:52 PM

Mumbai — After jumping over 265 points in early trade, the benchmark Sensex on Wednesday frittered away most of the gains and ended with a marginal 3.33 point rise at 29,007.99 on nervousness ahead of Union Budget and monthly derivative contracts expiry.

Stocks opened on a strong footing on increased foreign capital inflows and a firming global trend on relief over Greek debt deal and as US Federal Reserve hinted that a rate hike is unlikely before June.

However, losses in Sensex constituents including HDFC Bank, ICICI Bank, TCS, L&T, Sun Pharma and Dr Reddys dragged the BSE barometer towards the red. The Sensex managed to end in the green because of gains in heavyweights like Infosys and ITC along with support from HDFC, Wipro and Bharti Airtel.

The 30-share Sensex hit a session high of 29,263.83 in the first half but succumbed to profit-booking in the last 90 minutes. It slipped into the negative zone and hit a low of 28,967.61 but support from select FMCG, IT, and Oil & Gas shares helped the Sensex settle with a marginal rise of 3.33 points, or 0.01 per cent, at 29,007.99. The Sensex has now gathered over 33 points in two straight sessions.

Also, the NSE index Nifty edged up by 5.15 points, or 0.06 per cent, to end at 8,767.25. Intra-day, it shuttled between 8,751.40 and 8,840.65.

Brokers said higher levels could not be sustained as participants turned cautious and indulged in profit-booking.


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