Sensex Flat Around 50,400; L&T, GAIL Top Gainers, BPCL Trades Weak


2021-03-17 03:57:45

Sensex Flat Around 50,400; L&T, GAIL Top Gainers, BPCL Trades Weak

The domestic stock markets have opened flat, after three successive days of losses, due to mixed cues from the global front. At 9:30 am, the BSE Sensex was at 50,445.35, higher by 75.35 points or 0.16 per cent and the NSE Nifty was at 14,924.85, down 14.90 points or 0.11 per cent. The BSE Midcap and BSE Smallcap indices are also trading flat at 21,191.75 and 20,484.35 respectively.

Asian stocks were set to open mostly lower on Wednesday following a sell-off in US stocks as investors awaited the Federal Reserve’s meeting outcome. All eyes are on the US Fed whether the central bank will maintain near-zero interest rates amid the economy’s post-pandemic recovery.

Australia’s S&P/ASX 200 index lost 0.34 per cent in early trading, Japan’s Nikkei 225 futures fell 0.20 per cent and Hong Kong’s Hang Seng index futures rose 0.34 per cent.

Overnight, the S&P 500 ended lower, weighed down by energy and industrial stocks as investors awaited the result of the Federal Reserve’s two-day policy meeting.

The Dow Jones Industrial Average fell 0.39 per cent to end at 32,825.95 points, while the S&P 500 lost 0.16 per cent at 3,962.71. The Nasdaq Composite edged up 0.09 per cent to 13,471.57.

Meanwhile, oil prices edged lower on Monday, pulling back from early gains fostered on strong Chinese economic news and ongoing supply restraint from major oil producers. Brent crude futures for May settled at $68.88 a barrel, losing 34 cents. U.S. West Texas Intermediate crude for April settled at $65.39 a barrel, shedding 22 cents.

On the IPO front, Nazara Technologies and Suryoday Small Finance Bank will open their maiden public offers for subscription on March 17.



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