Sensex, Nifty End Little Changed As Investors Await Fed Meet Outcome
(RTTNews) - Indian shares ended little changed on Wednesday after data showed retail inflation in the country neared RBI's upper tolerance band in November, driven mainly by higher food prices.
Global cues were muted but encouraging industrial output data and tumbling oil prices on concerns over demand and oversupply helped cushion the downside.
The dollar ticked up while Treasury yields traded mixed ahead of the final Federal Reserve decision of the year later in the day.
The benchmark S&P BSE Sensex ended a choppy session up 33.57 points at 69,584.60 while the broader NSE Nifty index inched up 19.95 points, or 0.10 percent, to close at 20,926.35.
IT stocks underperformed, with TCS and Infosys both falling around 2 percent after U.S. core inflation rose last month, raising concerns that the U.S. central bank might not be quick to declare a win in its policy efforts.
UltraTech Cement, HDFC Life and Axis Bank fell over 1 percent each.
PSU and auto stocks topped the gainers list, with Eicher Motor, Power Grid Corp, Hero MotoCorp and NTPC rallying 2-4 percent.
Adani Ports jumped 3 percent after the company said it would raise 50 billion rupees ($599.8 million) by issuing non-convertible debentures and 2.5 billion rupees through non-cumulative redeemable preference shares.
Tanla Platforms surged nearly 19 percent amid high volumes.
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