Sensex ends flat, up 7 points

Last Updated: Thu, Feb 21, 2013 03:43 hrs

The BSE Sensex eked out small gains for the third straight session on Wednesday, helped by Reliance Industries which rose after announcing investment in its key natural gas block and property developer DLF extending gains on hopes of better earnings.

The focus will be on the budget with foreign investors closely monitoring whether the government will put fiscal discipline ahead of election largesse. Concerns also remain on the macroeconomic front. The government is unlikely to achieve its $350-billion export target in the current fiscal year that ends in March, Commerce and Industry Minister Anand Sharma said on Wednesday.

The BSE Sensex rose 0.04 per cent, or 7.03 points, to end at 19,642.75. The 50-share Nifty rose 0.06 per cent, or 3.35 points, to 5,943.05.

DLF shares gained 3.6 per cent to close at Rs 279.85, their highest level since January 11, 2011, on continued expectations of an earnings recovery and on a CLSA upgrade. The property developer had gained 8.6 per cent in the previous two sessions. Ambuja Cements was up 3.26 per cent and ACC Ltd gained 0.9 per cent, for a second day after shareholders at each of the cement makers separately approved paying technology fees to controlling stakeholder Holcim of one per cent of net annual sales.

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