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Indices end flat, Nifty retains 17,500 mark; Metal shines; IT drags

Share Market Close: Indian benchmark indices ended on a flat note on Wednesday. Sensex lost 35 points, whereas Nifty gained 10 points. L&T, Tata Steel and ICICI gained, whereas NTPC and Bajaj Finance stocks were in the red. Markets remained cautious ahead of US inflation data. HINDALCO PROFITS ZOOM ..

Stocks overall ended in a loss in Asia on Wednesday following a Wall Street retreat on Tuesday. This was mostly due to the caution ahead of US inflation data that will shape investor expectations for further Federal Reserve interest-rate hikes. 

Indices ended flat on Wednesday. Sensex was down 35 points but Nifty managed to be in green with a gain of 10 points.  

Benchmark indices played in the flat territory in today’s session. Sensex was slightly down at close shedding 35 points to end at 58,817 points. Nifty managed to retain its 17,500 mark and closed 10 points higher at 17,534 points.

The Metal index rallied and ended with a gain of more than 1.5%. Hindalco and Tata Steel stocks led the rally in this index. Bharati Airtel and ICICI Bank stocks also featured among prominent gainers.

IT and Realty indices lost ground in today’s session. NTPC and Bajaj Finance ended in red, down more than 2%.

Asian stocks closed in red tracking Tuesday’s Wall Street retreat. Japan’s Nikkei fell on Wednesday dragged down by chip-related shares. The Nikkei share average closed 0.65% lower.

Chinese stocks also joined the global retreat with Hang Seng Index shedding 1.96% and the Shanghai Composite Index sinking 0.54%.

European stock markets dropped at the open on Wednesday. Investors are cautious as they await US inflation data that could influence the Federal Reserve’s tightening path.

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