The market closed flat in trade today after traders turned cautious
tracking negative global cues ahead of the US Federal Reserve policy
announcement scheduled later in the day. While the Sensex closed 16
points or 0.05 % higher at 35,176, Nifty fell 0.20% or 21.30 points to
Earlier the Sensex rose over 200 points in opening trade
but pared most gains later in the day. Kotak Mahindra Bank, ITC and
Asian Paints were the top Sensex gainers.
Kotak Mahindra Bank was the top Nifty gainer too, closing 4.04% higher at 1260 level.
lender on April 30 posted a 27% rise in consolidated net profit to Rs
1,789.24 crore in its financial results for the quarter ended March 31,
Tata Steel, ICICI Bank and HUL were the top Sensex losers.
HCL Technologies stock closed 4.79% or 50 points lower at 1001 on BSE
after India's fourth largest IT services firm posted a 9.8 per cent
decline in its consolidated net profit for the March 2018 quarter at Rs
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.
The PC Jeweller stock closed 23.69% lower at 110.65 on BSE. The stock is the top loser on the index.
Financial markets were shut yesterday on account of 'Maharashtra Day'.