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    Sensex, Nifty end flat after choppy session; Hindalco surges 4%

    Synopsis

    The benchmark indices declined 35.78 points to end at 58,817.29. Its broader peer, Nifty50, also failed to close above the 17,550 mark.

    sensex 23Agencies
    In a bland session after a 1-day break, domestic equity benchmarks gave up early gains on Wednesday to end below the flatline as tech stocks inched lower, while traders awaited US inflation data for cues on the pace of rate hikes from the Federal Reserve. Weakness in Asian markets also dampened sentiment.

    After opening positive, the 30-share headline indices declined 35.78 points to end at 58,817.29. Its broader peer, Nifty50, also failed to close above the 17,550 mark.

    "Investors were in a cautious mode in anticipation of the release of US inflation statistics, which will set the tone for the next Fed policy meeting," said Vinod Nair, Head of Research at Geojit Financial Services.

    Bajaj Finance, NTPC, HCL Tech and Wipro were the top laggards in a lacklustre trading session, falling around 2-2.5 per cent. Asian Paints, UltraTech Cement, SBI, Infosys, Axis Bank and Kotak Mahindra Bank also settled lower. However, Tata Steel, Bharti Airtel, ICICI Bank, L&T and IndusInd Bank managed to end the session with gains of over 1 per cent.

    Market at a glance
    -Hindalco jumped over 4% on highest ever quarterly profit at Rs 4,119 crore
    -JSW Energy rose over 3% after will buy renewable assets from Mytrah Energy for Rs 10,530 crore
    -Munjal Auto advanced 14% after solid Q1 earnings; Lux Industries slumped over 6% after margin shrinks in June quarter
    -MRF shares cracked 4.5% after Q1 profit declined 29%
    -Delhivery shares dropped over 6 per cent after Q1 loss widened

    The US CPI inflation during July is projected to remain high, in line with June inflation levels. This, along with strong job data, will compel the Fed to keep taking a tough approach to rein in high inflation levels, Nair added.

    Sectoral Matrix

    Sectorally, Nifty IT index was the worst performer, falling 0.89 per cent. Nifty FMCG, Media and Realty indexes also ended with minor cuts. Bucking the trend, Nifty Metal advanced 1.62 per cent, while Nifty Bank, Auto also managed to settled with mild gains.

    Broader Markets
    The BSE midcap and smallcap indices also ended on a flat note.

    The market breadth was slightly skewed in favour of bears. About 1,534 stocks advanced, 1,868 declined and 122 remained unchanged.

    Elsewhere in Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul ended with significant losses. Equities in Europe were trading with mild gains in mid-session deals. Dow Jones Industrial Average futures gained 73 points, or 0.2%. S&P 500 futures added 0.2% and Nasdaq 100 futures climbed 0.3%.

    Meanwhile, international oil benchmark Brent crude declined 1.05 per cent to $95.30 per barrel.



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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