Mumbai, India (BBN) - After yesterday’s strong momentum, powered by the Budget proposals, the benchmark BSE Sensex was trading flat in morning trading today due to a rush to take profit amid weak Asia cues.
The NSE Nifty broke below the key 8,700—mark before recovering, reports The Hindu Business Line.
The 30-share BSE index was up 24 points or 0.09 per cent at 28,165.60, with metal, auto and capital goods feeling the squeeze.
Oil & gas, telecom, healthcare, FMCG, Energy and IT stocks moved up by up to 1.48 per cent.
The gauge had rallied 486 points yesterday, spurred by a series of market—friendly budget moves.
The NSE Nifty went below the 8,700-mark before recovering to trade at 8,719.65, up 3.25 points or 0.04 per cent.
A weak trend in Asia came as a dampener, traders said.
With the Budget out of the way, the focus turns to RBI’s monetary policy to be released next week, they added.
Hong Kong’s Hang Seng was down 0.52 per cent while Japan’s Nikkei shed 0.25 per cent in early trade today. Chinese market is closed for a public holiday.
The US Dow Jones Industrial Average, however, ended 0.14 per cent higher yesterday.
BBN/SK/AD