The BSE Sensex and NSE Nifty started off trade with gain of 0.6% on Thursday, but immediately erased all gains despite petrol price hike.
Experts feel this would not improve sentiment as it already deteriorated by global and domestic factors.
Petrol price hike would not alone be able to improve sentiment of the market, says Pratik Gupta, Head of Equities at Deutsche Equities. “Diesel price hike is one of the point that will improve sentiment.” Sharp fall in rupee has hurt sentiment significantly, he says.
The BSE benchmark rose just 13.26 points to 15,961.36 and the NSE benchmark went up 1.05 points to 4,836.70.
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