Benchmark indices were trading flat following Asian markets, which were trading range-bound on Thursday, with Japanese markets closed for a holiday and the United States off for Thanksgiving.
Meanwhile, the dollar was on the defensive after suffering its worst drubbing in five months while bonds celebrated a comeback on speculation the Federal Reserve might not tighten US policy as aggressively as previously thought.
Minutes of the Fed’s last meeting showed many policymakers were concerned inflation would stay below the bank’s 2% target for longer than expected. Fed Chair Janet Yellen said that she was uncertain about the outlook for inflation and led markets to pare back pricing for more hikes next year.
Back home, The government sought to tighten the Insolvency and Bankruptcy Code (IBC) through an ordinance to ensure that wilful defaulters and promoters of companies in loan default over an extended period of time won’t be able to get their hands back on assets during the resolution process.