Nifty falls below 8,700 mark; broader markets outperform

After a splendid rally on the Budget day, the benchmark indices on Thursday lost steam to trade flat as investors read into the fine-prints of Budget document. 

However, globally, US Federal Reserve keeping the interest rates unchanged in its policy meeting on Wednesday, capped losses. 

At 11:40 am, the S&P BSE Sensex was trading at 28,090, down 51 points, while the Nifty50 was ruling at 8,691, down 25 points. 

In the broader market, the BSE Midcap index and BSE Smallcap index outperformed the headline indices to rise 0.3% each.

“Due to this massive broad-based rally, the Nifty almost tested our