Both the benchmark indices bounced back to trade in the green, reflecting an extremely volatile trend.
Credit: PTI Photo
Mumbai: Benchmark equity indices turned highly volatile after the presentation of the interim Budget on Thursday.
After oscillating between highs and lows, the 30-share BSE Sensex declined 139.37 points to 71,612.74 points in the noon trade. The Nifty quoted 33.15 points lower at 21,692.55 points.
But, both the benchmark indices bounced back to trade in the green, reflecting an extremely volatile trend. The 30-share BSE traded 91.52 points up at 71,843.63, and the Nifty quoted 17.95 points higher at 21,743.65.
The Indian economy has witnessed a profound positive transformation in the last 10 years, Finance Minister Nirmala Sitharaman said on Thursday.
Sitharaman in her pre-election Budget, which is technically a vote on account and popularly termed as an interim Budget, said people of India are looking ahead to the future with hope and options.
Proactive inflation management has helped keep the country's inflation within the manageable range, the finance minister said while presenting the interim Budget. She also said that the inflation has moderated.
The Reserve Bank of India has been mandated by the government to ensure retail inflation remains at 4 per cent with a margin of 2 per cent on either side.
Among the Sensex firms, UltraTech Cement, Larsen & Toubro, Wipro and Bajaj Finance were among the major laggards.
Maruti, Power Grid, Mahindra & Mahindra, and Tata Consultancy Services were the biggest gainers.
Goods and Services Tax collections jumped 10.4 per cent to over Rs 1.72 lakh crore in January, reflecting buoyant economic activity and setting the stage for the next phase of GST reforms.
In Asian markets, Seoul and Hong Kong quoted in the green while Tokyo and Shanghai traded lower.
The US markets ended sharply lower on Wednesday.
On Wednesday, the US Fed left its main interest rate steady and made clear it "does not expect it will be appropriate" to cut rates "until it has gained greater confidence that inflation is moving sustainably towards" its goal of 2 per cent.
Global oil benchmark Brent crude climbed 0.14 per cent to USD 80.66 a barrel.
Foreign Institutional Investors (FIIs) bought equities worth Rs 1,660.72 crore on Wednesday, according to exchange data.
The Sensex jumped 612.21 points or 0.86 per cent to settle at 71,752.11 on Wednesday. The Nifty climbed 203.60 points or 0.95 per cent to 21,725.70.