Sensex Trims Early Losses, Turns Flat After Economic Survey Tabled
The Economic Survey projected India’s economic growth at 6 percent to 6.5 percent in the next financial year.
Sensex cut most of its losses to trade marginally lower during the afternoon session on Friday, 31 January, following the release of the government's Economic Survey.
After falling over 450 points from the day's high, the 30-share BSE index pared most losses to trade 6.61 points or 0.02 percent lower at 40,907.21. Similarly, the broader NSE was down 12.20 points, or 0.10 percent, at 12,023.60.
The rupee appreciated 21 paise to 71.36 against the US dollar in the morning session.
Kotak Mahindra Bank was the top gainer in the Sensex pack, rallying over 4 percent, followed by IndusInd Bank, Bajaj Auto, Hero MotoCorp and Titan. On the other hand, ONGC and PowerGrid tanked up to 5 percent. HCL Tech, TCS, Sun Pharma and Reliance Industries were also in the red.
Bourses in Hong Kong and South Korea were trading in the red, while Japan rose 1 per cent.
Indian equity benchmarks had opened in green earlier on Friday.
The S&P BSE Sensex had risen 0.3 percent to 41,044 and the NSE Nifty 50 had risen 0.31 percent to 12,074.
(With inputs from BloombergQuint and PTI)
(At The Quint, we are answerable only to our audience. Play an active role in shaping our journalism by becoming a member. Because the truth is worth it.)