Markets end flat with positive bias on Wednesday - LuvKush Finserve

Markets ended flat with a positive bias on Wednesday as investors remained cautious ahead of US Federal Reserve's monetary policy decision. The gains were led by oil shares. Risk appetite was muted after the Reserve Bank of India in its third-quarter monetary policy review raised concerns over inflation and said that the government should initiate measures to control the fiscal deficit.

The Bombay Stock Exchange's Sensex rose 14.10 points and ended at 20,005.00 while the National Stock Exchange's Nifty gained 5.85 points to end at 6,055.75.

In the results calendar, Bharti Infratel, ICICI Bank, Godrej Consumer Products, Lupin, Punjab National Bank, Siemens, Shobha Developers, Tata Global Beverages, Trent are scheduled to announce third-quarter results on Jan 31. Oil & gas, consumer durables, banks rose while capital goods, auto, power and FMCG sectors, declined on BSE.

Among key Sensex stocks, Cipla rose 2.6 percent, HDFC Bank and ICICI Bank gained 0.5 percent and 1 percent respectively, Sterlite Industries gained 1.4 percent & Tata Steel notched up 1.7 percent, Reliance Industries gained 2 percent on BSE.

Among losers, GAIL fell 3.3 percent, ITC fell 1 percent, Larsen & Toubro and BHEL dropped 2 percent and 0.6 percent, SBI dropped 1percent on BSE. The broader markets ended weak with mid-caps & small-caps falling 0.03-0.2% on BSE.

Source : Equity Bulls

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