Sensex trades flat ahead of budget

Mumbai, July 10 (IANS) A benchmark index of Indian equities markets was volatile Thursday, wiping off its gains made in the early trade just ahead of the maiden budget of the new government which will be presented to the parliament.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 25,513.74 points, was trading at 25,5442.38 points (at 10.40 a.m.) trade session, down 2.43 points or 0.01 percent from the previous day's close at 25,444.81 points.

The markets had earlier made gains of about 64.08 points or 0.25 percent around 9.20 a.m., as automobile, capital goods and consumer durables stocks surged.

The markets were cautious ahead of the Bharatiya Janata Party-led government's first budget which will be presented to the Lok Sabha.

On Thursday, health buying was observed in metal, realty and power sectors, while selling pressure was seen in healthcare, fast moving consumer goods (FMCG) and bank sector.

The Sensex touched a high of 25,513.74 points and a low of 25,402.84 points in the intra-trade so far.

The S&P BSE healthcare index tanked by 86.53 points, followed by FMCG index which slipped by 48.94 points and bankex which was down 46.03 points.

However, metal index was up 73.85 points, realty index increased by 16 points and power index was higher by 15.55 points

The wider 50-scrip Nifty of the National Stock Exchange (NSE) was trading flat at 13.35 points or 0.18 percent up at 7,598.35 points.