The Hindu : Business : Sensex ends flat

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Friday, Feb 29, 2008
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Sensex ends flat

MUMBAI: The stock markets on Thursday failed to sustain higher levels and closed barely changed as even the pre-budget Economic Survey for 2007-08 and Finance Minister P. Chidambaram’s confident words on economic growth and containing inflation failed to lift the investor sentiment. Analysts said trading was range-bound as the markets were awaiting, with bated breath, Chidambaram’s Budget proposals.

The budget for 2008-09 assumes extra significance considering that this could be the UPA government’s last full budget before the General Elections next year.

The 30-share benchmark Sensex settled at 17824.48, after moving between 17921.51 and 17690.16. The BSE barometer had closed flat at 17825.99 on Wednesday also.

The key index, however, did make a feeble attempt of recovery after the economic survey was tabled in Parliament at noon. Exuding confidence of 9 per cent growth in tandem with controlled inflation during 2008-09, Finance Minister P. Chidambaram said fundamentals were inspiring confidence and investment climate was full of optimism. “The new challenge is to maintain growth at these levels, not to speak of raising it further to double digit levels,” stated the Survey, a report card on the economy, presented in Parliament.

The National Stock Exchange’s S&P CNX Nifty was virtually flat at 5285.10 against its previous close of 5268.40. — PTI

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