Sensex, Nifty Volatile; RIL, TaMo Shine; L&T Sheds 5%
A day ahead of the interim Budget, benchmark indices were seen trading on a volatile note amid weak signals from Asian peers.
Apart from the Budget anxiety, investors were also awaiting the US Federal Reserve policy outcome later tonight.
The S&P BSE Sensex dipped to a low of 70,846, and thereafter rebounded into the positive zone and touched a high of 71,229. The BSE benchmark was quoting around 71,170 levels – up 50-odd points. The NSE Nifty 50 was moving around 21,550 levels.
Larsen & Toubro (L&T) was the chief dragger, down 5 per cent a day after announcing its Q3 results. Kotak Bank, Axis Bank and Titan were the other notable losers.
On the other hand, Tata Motors, NTPC and Reliance were up around 1-2 per cent.
Global cues
Asian markets were seen trading in a sea of red. China’s Shanghai Composite and Hang Seng tumbled over 1.5 per cent each. Japan’s Nikkei was down 0.5 per cent. Kospi and Taiwan were down 0.3 per cent.
Overnight, the US benchmark indices seesawed between zones after strong US labour data, raised doubts on how soon the Fed could cut rates. Dow Jones ended 0.4 per cent higher, while Nasdaq slipped 0.8 per cent. The S&P 500 was down 0.1 per cent.
The yield on the benchmark 10-year US Treasury note declined to 4.019 per cent.