Markets eke out modest gains ahead of Budget, U.S. Fed's rate decision
The Hindu
Mahindra & Mahindra topped the Sensex gainers' chart with a jump of 3.53%
Equity benchmarks ended with marginal gains on January 31 as investors kept their powder dry ahead of the Union Budget presentation and the U.S. Federal Reserve's interest rate decision.
Fag-end buying helped the 30-share BSE benchmark Sensex settle with a gain of 49.49 points or 0.08% at 59,549.90. During the day, it hit a high of 59,787.63 and a low of 59,104.59.
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The broader NSE Nifty inched up 13.20 points or 0.07% to close at 17,662.15.
Mahindra & Mahindra topped the Sensex gainers' chart with a jump of 3.53%, followed by UltraTech Cement, Power Grid, SBI, ITC, Tata Motors, Titan and NTPC.
On the other hand, Tata Consultancy Services, Bajaj Finance, Tech Mahindra, Sun Pharma, Asian Paints, HCL Tech and HDFC were among the major laggards.
"The Indian market has been underperforming compared to the rest of the world because it has been trading at premium valuations, which are in contrast to the moderation forecast in the domestic economy for FY24.
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