On Thursday, after the budget, the benchmark indices lost stream to trade flat.The S&P BSE Sensex was trading at 28,136, down 5 points, while the Nifty50 was ruling at 8,712, down 4 points.
In the broader market, the BSE Midcap index and BSE Smallcap index outperformed the headline indices to rise 0.2% each.
“Due to this massive broad-based rally, the Nifty almost tested our expected level of 8,737 on Wednesday. We continue to believe the trend is so strong and one should look to ride the tide rather than looking for resistances or overbought conditions. The Nifty is poised for higher levels of 8,805-8,893. On the flipside, 8,672-8,620 would act as a strong support zone,” said Angel Broking in a technical note.
Sector and Stocks
Tata Motors fell over 2% to Rs 530, Shree Renuka Sugars shed 6% to Rs 14 ,ITC stock continued to gain for the second straight day to rise nearly 3% to Rs 280.
Global Market
MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.2% while Japan's Nikkei ticked down 0.3%.
China market remains closed for the final day of Lunar New Year holidays that started on 27 January 2017.
Other related news:
Union Budget 2017: Market go green, Sensex flow 300 points, Nifty recover 8,600
Sensex, Nifty alerts as Budget countdown begins
IT stocks pulls down BSE Sensex, NSE Nifty: Economic Survey