SENSEX | Nifty closes flat - 9/7/09

Benchmark index closed almost flat after heavy selling for 2 days post budget session presented by Pranab Mukherjee(see budget highlights) , And mood on dalal street is completely bearish and future looks no bright as there are bears all around.

National Stock Exchange’s Nifty closed at 4080.95 up 2.05 points. The broader index hit a low of 4039.85 and high of 4114.90.

Bombay Stock Exchange’s (SENSEX) closed at 13,757.46, down 11.69 points or The index touched an intra-day low of 13643.97 and high of 13,879.18.

Market breadth comprised 1462 declines against 1078 advances on the BSE. The BSE Midcap Index was up 0.58 per cent and BSE Smallcap Index slipped 0.14 per cent.

In the Union Budget for this fiscal, tax benefits for Software Technology Parks of India (STPI) have been extended by one year. This is likely to have a positive impact on the front-line IT companies as their FY2011 earnings estimates would get upgraded by 3-5% while that of the mid-cap IT companies would see a higher upward revision,” said Sharekhan report. and Infosys results may trigger bulls and market may rise after the results of Infy are declared.