Share Market Highlights 07 February 2024: Sensex, Nifty close flat; IT drags, PSBs shine

Sensex, Nifty updates on 07 February 2024: Indian shares surrendered the morning’s gains at close on Wednesday, dragged by IT stocks after global major Cognizant reaffirmed weakness in client spending in its quarterly earnings results.

The NSE Nifty 50 index settled 0.01 per cent higher at 21,930.50, while the S&P BSE Sensex dropped 0.05 per cent to 72,152. TRF surged 19.99% after announcing the withdrawal of accommodation with Tata Steel citing improved business performance and stakeholder value enhancement. Analysts await the RBI monetary policy outcome, expecting status quo, and closely monitor the meeting’s tone.