BackMarkets end flat on doubts about fiscal reforms
Investors are worried that delayed fiscal reforms may prevent the RBI from lowering interest rates
Premium(The Sensex provisionally gained 0.1%, while the Nifty gained 0.09%. File photo )
Mumbai: The markets provisionally ended flat on Monday on worries that further delays in fiscal reforms from the government would prevent the central bank from lowering interest rates.
Banks were among the day’s leading decliners: ICICI Bank Ltd ended down 1%, while State Bank of India fell 2.1%.
Bharat Heavy Electricals Ltd fell 2.3%, after earlier hitting its lowest intraday level since October 2008, on renewed concerns of coal block cancellations from the government’s controversial 2006 sale process.
Tata Steel Ltd gained 1.3% after Citigroup upgraded the stock to “buy" from “neutral", citing attractive valuations.
India’s benchmark BSE index, the Sensex, provisionally gained 0.10%, while the 50-share NSE index, the Nifty, ended up 0.09%. Reuters
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