INSUBCONTINENT EXCLUSIVE:
Authors: TheIndianSubcontinent News AgencyHCL Technologies fell 5 per cent after its March-quarter profit came in below analysts'
and Nifty ended mixed today
Gains in select banking stocks were offset by losses in metal and IT stocks
Sentiment across the globe was muted as investors await the US Federal Reserve's policy decision later in the global day for cues on the
future pace of US monetary tightening
The Fed is seen set to hold interest rates steady but will likely encourage expectations that it will lift borrowing costs in June on the
back of rising inflation and low unemployment.The Sensex ended 16 points higher at 35,176 while Nifty edged 21 points lower to
10,718."Global cues are weighing on the markets It is now running into macro headwinds - crude, spike in the 10-year yield, valuations on
market-end as a whole are high," said Sunil Sharma, chief investment officer of Sanctum Wealth Management.Stock markets were closed on
Tuesday for a public holiday.Shares of Bajaj Auto Ltd gained after the company posted a 26 per cent jump in total vehicle sales for April
Dabur India rose after posting a 19 percent rise in its fourth-quarter profit on Tuesday.Public sector banks fell on non-performing asset
The Nifty PSU bank index dropped 2.5 per cent with Indian Bank shedding nearly 5 per cent.However, private sector lenders inched higher with
Kotak Mahindra Bank rising 4 per cent after the lender posted a 15 percent rise in March-quarter profit on Monday
Another private sector bank, Axis Bank, rose 1.5 per cent
HDFC and HDFC Bank rose over 1 per cent.HCL Technologies fell 5 per cent after its March-quarter profit came in below analysts' estimates
Among metal stocks, Vedanta fell 5 per cent while Tata Steel and Hindalco fell over 3 per cent.
