Stock market today: Indian stock market benchmarks- the Sensex and the Nifty 50- closed flat on Thursday, July 11, as gains in shares of ITC, ONGC, Tata Motors and SBI were offset by losses in those of Mahindra and Mahindra (M&M), Bajaj Finance, ICICI Bank and Larsen and Toubro.
Benchmark indices remained sideways on Thursday, continuing the trend of selectively picking some stocks while booking profits in others. Experts point out that the market is struggling to break out of its range due to a lack of fresh triggers. This trend may persist until the Budget announcement on July 23.
The focus was also on the US CPI which is due later today as it will shape expectations of rate cuts by the US Fed. Fed Chair Jerome Powell, in his testimony to Congress on Wednesday, said the central bank needs more data to start cutting rates.
The Nifty 50 closed nearly 9 points, or 0.03 per cent, lower at 24,315.95, while the Sensex settled 27 points, or 0.03 per cent, down at 79,897.34.
(More to come)
