Markets End Flat Ahead of Budget, Nifty Solid Above 11,900
On the flipside, NSE Nifty Pharma Index was the top sectoral loser, down 0.5 percent, according to BloombergQuint.
Equity markets closed flat on Thursday, 4 July, after a choppy day of trading ahead of the Union Budget, set to be placed on Friday by Finance Minister Nirmala Sitharaman.
30-share BSE Sensex gained 68.81 points to close at 39,908.06, while the broader 50-share NSE Nifty ended at 11,946.75, up 30 points.
On Thursday morning, Sensex opened above 39,900 and dipped to 39,850-levels in afternoon trade before reclaiming the gains later.
AMong sectors, the Nifty PSU Bank sub-index gained more than a percent, while Nifty Metal finished a percent in the red.
Banks were in focus on hopes of recapitalisation by government in the upcoming Budget.
India’s benchmark bond yield declined after the government tabled economic policy in the Lok Sabha. The 10-year bond yield fell two basis points to 6.81.
In the currency market, the Indian rupee extended gains for the ninth consecutive trading session against the greenback to trade near day’s high.
In the commodities, Brent crude fell 1.1 percent to 63.11 dollars per barrel. It closed 2.28 percent higher on Wednesday and declined over 5 percent so far this week.
(With inputs from Moneycontrol and BloombergQuint.)
(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.)