Sensex ends flat on foreign selling pressure

The BSE Sensex remained under pressure on Monday, falling for a fifth consecutive session, as foreign investors turned sellers, hitting blue-chips such as ICICI Bank and Hindustan Unilever. Foreign investors sold shares worth Rs 723 crore ($120.6 million) on Friday, after buying $1.6 billion worth of stocks in six straight sessions to Thursday, exchange and regulatory data showed.

The selling comes after foreign funds had largely been behind a near 20 per cent rally in Indian shares this year. Analysts cited disappointment with the Narendra Modi-led government's maiden Budget, which lacked major reforms or enough details about how to meet ambitious fiscal deficit targets. The benchmark BSE Sensex ended 17.37 points, or 0.07 per cent, lower at 25,006.98 points. The broader Nifty also edged down 5.45 points, or 0.07 per cent, to 7,454.15.