Sensex closes flat amid volatile trade, Nifty settles below 17,550

The BSE Sensex and the NSE Nifty closed in the red on Wednesday, September 22,  ahead of the Federal meeting outcome. At close, 30-share Sensex shed 78 points while the Nifty50 closed below 17,550. Media stocks rallied after the Zee-Sony merger announcement.

Coal India, Tech Mahindra, Tata Motors, Hindalco Industries, and Mahindra and Mahindra were the top Nifty gainers. On the other hand,  HDFC (Housing), Nestle India, HDFC Bank, ICICI Bank and Kotak Mahindra Bank were among the top losers. Barring bank and FMCG, all sectoral indices settled in the green, with the realty index rising over 8 percent. The BSE mid and smallcap indices rose 1 percent each.

Commodity Market: Gold was trading flat in the Indian market on Wednesday amid rising uncertainties from the US Federal Reserve on tapering stimulus for the world’s largest economy. On the Multi-Commodity Exchange (MCX), October gold contracts were trading lower by 0.09 percent at Rs 46,596 for 10 grams at 0924 hours. September silver futures were higher by 0.66 percent at Rs 60,835 a kilogram.On September 22, gold rose by Rs 231 to Rs 46,513 per 10 gram in the Mumbai retail market after three days of straight fall on a softer dollar and safe-haven appeal.

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