Equity benchmark Sensex ended marginally lower after a choppy session on Friday as investors weighed the fiscal impact of the government’s economic stimulus.
According to market experts, participants fear that the Rs 20 lakh crore package may not result in direct and immediate boost to demand, raising doubts over the country’s economic revival in the near term.
After slumping over 350 points during the day, the 30-share index pared most losses to settle 25.16 points or 0.08 per cent lower at 31,097.73.
Similarly, NSE Nifty slipped 5.90 points, or 0.06 per cent, to close at 9,136.85.
M&M was the top laggard in the Sensex pack, cracking over 4 per cent, followed by Axis Bank, IndusInd Bank, Hero MotoCorp, Sun Pharma and ICICI Bank.
On the other hand, Bharti Airtel, Asian Paints, Tata Steel, NTPC, HUL and Reliance ended with gains.
International oil benchmark Brent crude futures climbed 2.18 per cent to USD 31.81 per barrel.
On the currency front, the rupee provisionally settled 2 paise lower at 75.58 against the US dollar.