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Sensex, Nifty Cut Early Losses To End On Flat Note
(RTTNews) - Indian shares fluctuated before ending on a flat note Thursday. A cautious undertone prevailed as investors reacted to hawkish commentary from the Federal Reserve and rising tensions in the Middle East.
At the end of a two-day policy meeting on Wednesday, the U.S. central bank left interest rates unchanged but warned about higher inflation and slower economic growth in the months ahead.
On the geopolitical front, speculation grew over a possible U.S. involvement in the Israel-Iran conflict.
It is feared that a direct U.S. involvement in Israel's escalating air assault could trigger a wider regional conflict and impact the energy infrastructure in the West Asia region.
A U.S. attack on Iran would "radically destabilize the entire situation," warned Russia's deputy foreign minister.
The benchmark S&P/BSE Sensex ended the session down 82.79 points, or 0.10 percent, at 81,361.87 while the broader NSE Nifty index slipped 18.80 points, or 0.08 percent, to 24,793.25.
The broader market suffered heaving losses, with the BSE mid-cap and small-cap indexes plummeting 1.6 percent and 1.8 percent, respectively.
The market breadth was weak on the BSE, with 3,011 shares declining while 966 shares advanced and 140 shares closed unchanged.
IT stocks led losses, with TCS, Infosys and Tech Mahindra falling 1-2 percent.
Among other prominent decliners, Tata Steel, Bajaj FinServ, Nestle India, IndusInd Bank, Bajaj Finance and Adani Ports lost 1-2 percent.
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