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BW Businessworld

Nifty Ends Flat Amid Caution Ahead Of Fed Meet

US stocks registered fresh record closing high yesterday as investors looked ahead to the outcome of a key Federal Reserve meeting

Photo Credit : Reuters

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The NSE benchmark Nifty ended the volatile session flat with negative bias, down 5.55 points on selling mainly in PSU bank, metal, pharma and financial service.

Investors turned cautious ahead of the two-day US Federal Reserve monetary policy meeting that will start tonight.

While, buying were seen in realty, auto, energy and FMCG sectors.

Overseas, European and Asian stocks were mixed as investors awaited clues from the Federal Reserve on future monetary policy.

US stocks registered fresh record closing high yesterday as investors looked ahead to the outcome of a key Federal Reserve meeting.

The Nifty opened higher at 10,175.60 and later hit a fresh record high of 10,178.95 before closing at 10,147.55, marginally down 5.55 points, or 0.05 per cent.

It saw an intra-day movement of about 49.00 points.

On the sectoral front, PSU bank fell 0.79 per cent, metal 0.72 per cent, pharma 0.49 per cent and finance service 0.27 per cent.

However, realty rose by 0.88 per cent, auto 0.59 per cent, private banks 0.24 per cent, energy 0.27 per cent, FMCG 0.27 per cent, media 0.22 per cent and IT 0.05 per cent.

Major index gainers were GAIL, Tata Motors, Infratel, TataMtrDvr, Kotak Bank, BPCL and Ambuja Cement.

Losers were Coal India, AuroPharma, SunPharma, HDFC, Hindalco, and Eicher Motors.

The broader indices managed to hold ground, as the Nifty Midcap and Smallcap indices posted gains of 0.05 and 0.22 per cent, respectively.

The market breadth, indicating the overall health of the market, showed the gainers taking a slight lead over the losers. On the NSE, 844 stocks advanced, compared with 847 stocks declining and 76 stocks remaining unchanged.

Total securities that hit their price bands were 148.

Turnover in the cash segment eased to Rs 28,638.18 crore from Rs 28,780.71 crore yesterday.

A total of 16,075.71 lakh shares changed hands in 9,668,454 trades. The market capitalisation of listed firms on the NSE stood at Rs 1,35,20,537.37 crore.

(PTI)


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nifty psu nse federal reserve