New Delhi, Jan 11: Sensex and Nifty started flat on Thursday as the markets were reportedly apprehensive of the reports of long-term capital gains tax could be announced in the Union Budget 2018. A 7-member panel has reportedly recommended that Prime Minister Narendra Modi must provision to levy the tax.
At 10:10 am, the Bombay Stock Exchange (BSE) Sensex was trading 10.05 points lower at 34,423.02 points, whereas the National Stock Exchange was down 7.45 points at 10,624.75.
The Hindu reported that at BSE, oil and gas index, capital goods, banking, and PSUs started low. The realty index, consumer durables and IT were up.
Indian markets opened flat on Wednesday as investors awaited December quarter earnings. Both Sensex and Nifty were trading in the green in the opening trade. While the 30-share BSE Sensex opened 36.20 points higher at 34,479.39, 50-share NSE Nifty gained 2.40 points to open at 10,639.40.
Bharti Airtel, ONGC, Coal India, ITC, Infosys, Sun Pharma, Reliance Industries were among the early gainers. HPCL, BPCL, Eicher Motors, Asian Paints, Kotak Mahindra Bank were among the early losers.
Markets ended in the red with Sensex and Nifty remaining volatile through the day. While BSE Sensex ended 10 points down at 34,433, NSE Nifty closed 4 points down at 10,632.