Stock Market Today: Indian equity market benchmarks Sensex and Nifty 50 ended flat on Thursday, July 11, as gains in shares of ITC, ONGC, Tata Motors and SBI were offset by declines in shares of Mahindra & Mahindra (M&M), Bajaj Finance, ICICI Bank and Larsen & Toubro.
Benchmark indices traded sideways on Thursday, continuing the trend of selective buying in some stocks while booking profits in others. Experts say in the absence of any fresh catalyst, the market is struggling to break out of the range, a trend that is likely to continue till the budget is announced on July 23.
Attention is also focused on the release of the U.S. Consumer Price Index (CPI) today, which will determine expectations of an interest rate cut from the Federal Reserve. Fed Chairman Jerome Powell said in congressional testimony on Wednesday that the central bank needs more data before it starts to cut interest rates.
The Nifty 50 fell nearly nine points, or 0.03 per cent, to close at 24,315.95, while the Sensex fell 27 points, or 0.03 per cent, to close at 79,897.34.(To be continued)
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