Tuesday close: Sensex gains 23 pts to 14833 | business | Hindustan Times
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Tuesday close: Sensex gains 23 pts to 14833

business Updated: Mar 18, 2008 17:54 IST

Reuters
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The Bombay Stock Exchange benchmark Sensex on Tuesday ended almost flat on small bouts of trading amidst speculation that US Federal Reserve may announce yet another interest rate cut on Wednesday.

Marketmen said investors preferred to wait for Fed's decision before indulging in selling or buying.

The 30-share Sensex, which recorded the second biggest fall of 951 points in previous day's trading, gained a moderate 23.97 points at 14,833.46. The key index touched day's low of 14,677.24 and a high of 15,169.61 points.

Analysts said Fed's decision will have a direct bearing on market sentiments and it could either lift the markets up or down in near term.

The wide-based National Stock Exchange index Nifty rose by 29.90 points at 4,533.00. It touched the days low of 4,468.55 and a high of 4,617.95 points.

Trading volumes turned weak as funds refrained from enlarging their positions ahead of the crucial Fed meeting, marketmen said.

Trading was confined to select sectors like capital goods, realty, oils and gas, metals, bank and consumer durables.

While capital goods index surged by 227.57 points at 12,933.88 and realty index by 136.47 at 7243.00, the metal index dropped by 284.74 points at 13,440.78, bank index by 75.19 points at 7493.97 and oils and gas index by 90.26 points at 9711.60.

Smallcap index lost 157.03 points at 7365.20 and midcap index by 90.44 points at 6033.91.