Updated: January 29, 2021 11:43:50 am
The topline equity indices on BSE and National Stock Exchange (NSE) erased their early gains were trading in a narrow range with some positive bias ahead of the presentation of the Economic Survey 2020-21 in the Parliament.
At 11:30 am, the S&P BSE Sensex was up 75.26 points (0.16 per cent) at 46,949.62 while the broader Nifty 50 was up 28.95 points (0.21 per cent) at 13,846.50. Both the indices had opened on a positive note with Sensex touching 47,423.66 and Nifty rising to 13,966.85.
On the Sensex chart, IndusInd Bank, Mahindra & Mahindra (M&M), Bajaj Finance, ICICI Bank, Bajaj Finserv and HDFC Bank were the top gainers in late morning deals.
On the other hand, Maruti Suzuki India, Axis Bank, Tata Consultancy Services and Hindustan Unilever (HUL) were the top losers.
In the previous five sessions, the Sensex had lost 2,917.76 points, while the Nifty had shed 827.15 points.
Analysts are of the view that a continued pullback in domestic markets was mainly led by profit booking ahead of the Union Budget and important global events.
The government will table the Economic Survey 2020-21 in Parliament later today and present the Union Budget 2021-22 on Monday, February 1, 2021.
Elsewhere in Asia on Friday, stocks markets were trading higher but heading towards settling with worst weekly losses in months.
Meanwhile, the global oil benchmark, Brent crude futures, rose 0.18 per cent to USD 55.20 per barrel.
— with PTI inputs
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