With investors, looking ahead to the U.S. Federal Reserve’s monetary policy review, still staying wary of picking up stocks, the key Indian indices Sensex and the Nifty50 look headed for a flat close today.Data showing faster than expected acceleration in wholesale price and retail price inflation in February too appear to be weighing on sentiment.The Sensex, swinging between gains and losses, is now down 25 points or 0.1% at 29,417.63. The Nifty50 is up 3.25 points or 0.04% at 9090.25.The Nifty’s slightly better performance is due to strong gains posted by some stocks which are not part of the Sensex. Idea Cellular, which is trading 9.4% up, is a significant contributor. Other prominent gainers in the Nifty include, Bank of Baroda (3.7%), BHEL (3.5%), Aurobindo Pharma (2.5%), Tata Motors DVR (1.7%), Tata Power (1.5%) and Grasim Industries (1.3%).State Bank of India (1.6%), Tata Steel (1.5%) and Reliance Industries (1.4%) are among the prominent gainers in the Sensex.IT stocks Tata Consultancy Services (down 2.7%), Infosys (down 2.1%), HCL Technologies (down 1.3%) and Wipro (down 1%) are lower thanks to the dollar’s weakness against the rupeee.Hindustan Unilever is trading 1.4% down. Asian Paints, Larsen & Toubro, ONGC, ICICI Bank and IndusInd Bank are modestly lower.
September 12, 2024
