BSE Sensex flat; Reliance Industries leads

Reuters Market Eye - The BSE Sensex and Nifty were flat in trade on Wednesday. However, traders warn this week's gains are likely driven by purchases of recently under-performing sectors and may not sustain ahead of the budget.

At 1:15 p.m., shares in Reliance Industries gain 2.7 percent a day after the company said it will invest over $5 billion in the next three to five years with UK partner BP to boost declining output at a key natural gas field off India's east coast.

DLF shares gain nearly 4 percent, extending a recent rally on continued hopes of an earnings recovery. The property developer has gained more than 12 percent so far this week.

 

Welspun Corp , however, fell 2.4 percent after National Stock Exchange excluded the company's shares from trading in the futures and options segment from April 26, without giving a reason.

(Reporting by Manoj Dharra)