NDTV | Updated On: March 20, 2014 08:42 (IST)
8:10 a.m. Both the broader indices Sensex and Nifty closed flat on Wednesday. Frontline IT stocks took a hit amid muted guidance given by IT major TCS about its 4th quarter results. TCS ended the day with 4% loss but metal and banking stocks gave support to market, leading towards a flat close in the index towards the end. Tata Steel was the top gainer in Nifty on Wednesday which closed with a gain of around 4.7%.
Broader US indices ended in red after US fed came out with its decision to continue with the taper in the same line as expected, $10 billion taper a month. But there was a tweak in the statement of new Fed chairmen, which signaled a rate hike in next year. Fed's bond purchases on course to end in Oct-Nov and the first rate hike could come in April or May which is earlier than the market expectation of end of 2015.
Major Asian indices are currently trading in red. Nikkei trading down 0.52%, Hang Seng trading down 0.89%, Kospi down by 0.79% and the KLSE down marginally by 0.18%.
Tracking these developments in the international market Indian indices Nifty and Sensex may open lower this morning. At 8.35 a.m the Nifty future traded on Singapore exchange was down by 26.50 points (-0.40%).
(With inputs from Reuters)
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