The Nifty and the Sensex ended flat on Wednesday with no clarity on future direction. The Nifty closed at 5,943 up three points and the Sensex closed at 19,643 up seven points.

“The budget remains the next macro trigger; the sustained PSU equity supply is likely to remain an overhang for the markets over the next few months, short of a substantial positive surprise. A 4.8 per cent fiscal deficit for FY14 is structurally positive, save the higher fuel/fertilizer inflation. On the bright side could be steps to channelize long-term capital into investments. Markets would look at a lower fiscal print positively as it improves Government finances in the long-term,”said a Religare Institutional equities report.

Volatility was down 1.33 per cent and the volatility index India Vix closed at 15.6.

DLF, Ambuja Cement, BPCL, RIL and HCL tech were the top five Nifty gainers while Tata Steel, IDFC,Jindal Steel, Bharti Airtel and Cipla were the top losers.

(This article was published on February 20, 2013)
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