Indian shares fluctuated before ending on a flat note Tuesday.
Benchmark indexes Sensex and Nifty swung between gains and losses before ending marginally lower, as investors reacted to hawkish comments by Federal Reserve Chair Jerome Powell and kept a close eye on the latest developments in the Middle East.
Powell on Monday indicated inflation is cooling and interest rates may decrease further over time but there is no rush to cut rates quickly.
On the geopolitical front, the Israeli military commenced a “limited, localized” operation against Hezbollah targets in southern Lebanon, raising concerns about regional stability.
Oil prices were down more than 2 percent in European trade, helping limit losses in the broader market.
The benchmark 30-share Sensex ended the session down 33 points at 84,266.29 ahead of a holiday on Wednesday for Gandhi Jayanti.
The broader NSE Nifty index closed at 25,796.90, down 14 points from its previous close.
IndusInd Bank led losses to close 2.7 percent lower in the Nifty pack, while Tata Steel, Bajaj Auto, Asian Paints and ONGC fell 1-2 percent.
Among the prominent gainers, Adani Enterprises, Infosys, Britannia Industries, Mahindra & Mahindra and Tech Mahindra rallied 1-3 percent.
Market Analysis
Sensex, Nifty End Flat After Volatility
2024-10-01 10:23:34
