Sensex, Nifty little changed, financials, IT stocks drag
The NSE Nifty index ended marginally lower after volatile trading on Wednesday, while the BSE Sensex was nearly flat, as IT stocks and public sector lenders weighed on sentiment but auto stocks rose, boosted by strong monthly sales.
The BSE Sensex closed up 0.05% at 35,176.42.
The broader NSE Nifty ended 0.20% lower at 10,718.05, with Vedanta Ltd and HCL Technologies among the top percentage losers.
The BSE benchmark Sensex rose nearly 200 points in opening trade, only to turn cautious tracking negative global cues ahead of the US Federal Reserve policy announcement scheduled later in the day.
The index had gained 659.09 points in the previous three sessions on the back of widespread gains triggered by encouraging corporate earnings and strong auto sales data amid record GST collections.
Brokers said investor sentiment was cautious ahead of US Federal Reserve’s two-day policy meet outcome, as the central bank in March signalled that the path of future rate hikes could be “slightly steeper” over the next few years than previously thought.
Meanwhile, domestic institutional investors (DIIs) bought shares worth a net of Rs 261.98 crore, while foreign portfolio investors (FPIs) sold shares worth a net of Rs 385.47 crore on Monday, provisional data showed.
Financial markets were shut on Tuesday on account of Labour Day.
The US Dow Jones Industrial Average ended 0.27% lower in Tuesday’s trade.