BSE Sensex opened flat on the final trading day of this week. JM Financial surged close to 7 percent in the opening bell after the former chief executive officer of Citigroup Inc Vikram Pandit and Hari Aiyar announced to buy 1.5 percent stake in JM Fin.
BSE Sensex closed slightly up at 20247.33, up 34 points. Hopes of commodity prices maintaining their downtrend, interest rates easing and continued global liquidity flows are the key sentiment drivers at this point.
BSE Sensex and Nifty consolidated today after surging more than 2 percent yesterday on hopes of rate cut. Reliance Capital reported consolidated net profit of Rs 265 crore in the fourth quarter. The stock was flat.
Easing wholesale and consumer inflation has been the biggest sentiment driver over the last few days, raising hopes that the Reserve Bank of India will further cut the benchmark repo rate at its next monetary policy review in June.