Nifty ends below 8,800 ahead of F&O expiry, Union Budget: Benchmark indices reversed gains to end on a flat note on losses in capital goods, select pharmaceutical, technology and bank shares as caution ahead of F&O expiry, presentation of Railways and Union Budget kept risk-appetite subdued. After global rating agency S&P, its peer Moody's too emphasised today the need of financial and fiscal reforms before India's credit rating can be upgraded. The agency said times of both accelerating and decelerating growth, India's wide fiscal deficits, poor infrastructure and regulatory complexity have combined to create a mismatch between domestic demand and supply, contributing to inflation and current-account pressures. The market breadth indicating the overall health of the market was weak. The Sensex ended higher by 3.3 points at 29007.9 and the Nifty was up 5.15 points at 8767.20. The Indian rupee is trading higher at 62.02 per dollar versus 62.20 Tuesday.
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