Sensex ends flat; tech stocks gain, ONGC falls

The Sensex ended flat on Monday, and not far off yearly lows, as technology firms such as Infosys rose on hopes the 2013/14 budget would provide incentives for exporters, while ONGC fell on worries about a potentially higher oil subsidy burden.

Infosys Ltd provisionally rose 2.8 percent, while Oil and Natural Gas Corp Ltd fell 2.15 percent, ahead of the 2013/14 budget to be presented on Thursday.

The Sensex provisionally ended flat, barely above its lowest close since December 24 hit on Friday.

The Nifty ended up 0.08 percent.

Markets @ 11.30 AM (Reuters)

The Sensex gains 0.27 percent, rebounding after hitting its lowest close since December 24, 2012 on Friday. The Nifty is also up 0.25 percent.

Infosys Ltd gains 2 percent, while Tata Consultancy Services Ltd is up 1.3 percent on hopes of incentives for exporters in the 2013/14 budget to be unveiled on February 28.

Shares in non-banking financial companies gain on Monday after the central bank issued guidelines allowing any business sector to apply for banking licences.

Mahindra and Mahindra Financial Services gains 5.6 percent, while IDFC Ltd is up 1.7 percent.

However, Oil and Natural Gas Corp falls 0.8 percent on expectations of higher oil subsidy burden from the 2013/14 budget, say dealers.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • E-auction and eventual privatisation of coal industry are welcome steps

    The government’s decision to privatise the scam-ridden coal industry through a presidential ordinance will eventually end the monopoly of public sec

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Tushar Gandhi

Sustainable model for rural sanitation

Prime minister Narendra Modi has promised to build a toilet ...

Rajgopal Nidamboor

Synchronous balance is vital for one and all

Imagine that you are playing an electronic game, or actually ...

Shona Adhikari

When women to birds become a painter’s muses

This week the focus is on renowned artist Amitabha Banerjee, ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture