Sensex closes flat, Nifty ends below 9800
Sensex gained 1.24 points to close at 31,283.72, while the Nifty added 20 points to close at 9,788.6
 "People walk past the Bombay Stock Exchange (BSE) building in Mumbai (Photo: Reuters)")
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People walk past the Bombay Stock Exchange (BSE) building in Mumbai (Photo: Reuters)
Benchmark indices ended flat on Friday, even as the government maintained the fiscal deficit target of 3.2 per cent of gross domestic product for 2016-17.
The Sensex gained 1.24 points to close at 31,283.72, while the Nifty added 20 points to close at 9,788.6.
The rupee appreciated for the second day. Yield on the benchmark 10-year government bond rose one basis point. During the day, the Sensex rose as much as 241 points. But failed to keep up the gains on sustained selling by overseas investors.
Foreign portfolio investors sold shares worth Rs 1,546 crore, while domestic institutions bought shares worth Rs 2,064 crore, provisional data showed.
The Centre kept the borrowing programme for the second half unchanged, but kept open the option of higher borrowing in the last quarter of the year. “Market started with a positive note, supported by the government’s unchanged stance on budgeted borrowing plan and expectation of additional capital spending by public sector undertakings. But volatility emerged towards close as investors started profit-booking ahead of the extended weekend. Spurt in domestic liquidity and any cues to stick with fiscal deficit target will provide a positive direction to the market,” said Vinod Nair, head of research at Geojit Financial Services.
The Sensex gained 1.24 points to close at 31,283.72, while the Nifty added 20 points to close at 9,788.6.
The rupee appreciated for the second day. Yield on the benchmark 10-year government bond rose one basis point. During the day, the Sensex rose as much as 241 points. But failed to keep up the gains on sustained selling by overseas investors.
Foreign portfolio investors sold shares worth Rs 1,546 crore, while domestic institutions bought shares worth Rs 2,064 crore, provisional data showed.
The Centre kept the borrowing programme for the second half unchanged, but kept open the option of higher borrowing in the last quarter of the year. “Market started with a positive note, supported by the government’s unchanged stance on budgeted borrowing plan and expectation of additional capital spending by public sector undertakings. But volatility emerged towards close as investors started profit-booking ahead of the extended weekend. Spurt in domestic liquidity and any cues to stick with fiscal deficit target will provide a positive direction to the market,” said Vinod Nair, head of research at Geojit Financial Services.