Sensex, Nifty indifferent to FDI reforms

Mumbai: A slew of FDI reforms failed to enthuse the markets on Wednesday as participants held back fresh bets ahead of the corporate results season.

In big bang reforms ahead of the Budget, the government on Wednesday permitted foreign airlines to invest up to 49 per cent in debt-ridden Air India, and eased norms for investment in single brand retail, construction and power exchanges.

However, the benchmarks Sensex and Nifty slipped from record highs as caution crept in ahead of the earnings season, which will kick off on Thursday with TCS announcing its Q3 numbers, followed by Infosys on Friday.

The 30-share Sensex opened with strength and rallied to a fresh life-time high of 34,565.63. However, it succumbed to profit booking, before finally ending at 34,433.07 points, down by 10.12 points, or 0.03 per cent.