Sensex, Nifty largely unchanged, financials keep index afloat

Shares closed largely unchanged on Wednesday as weak global data hurt sentiment, while investors awaited positive cues from the budget due later this week.

The government is set to turn on the fiscal taps in the budget and revise its borrowing target slightly higher for this year and next, prompted by a slowing economy and weak jobs growth, a Reuters poll of economists showed.

The broader NSE Nifty closed 0.05% higher at 11,916.75, while the benchmark BSE Sensex settled 0.06% firmer at 39,839.25.

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Financials stock helped the indices finish in the black, with Indiabulls Housing Finance Ltd closing 7.6% higher while IndusInd Bank Ltd ending the day 3.8% higher.