The Indian equity criteria ended bit changed on Wednesday as investors turned cautious ahead of the outcome of US Federal Reserve's two-day meeting ending later in the day.
The US Fed will pick when it would begin tapering its bond purchasing strategy and raising rate of interest, experts stated.
The Sensex traded in a narrow series of 300 points and Nifty 50 index fluctuated in between 17,524 and 17,610.
Gains in Reliance Industries, Tech Mahindra, HCL Technologies, ITC and Mahindra - Mahindra were balanced out with losses in HDFC, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Hindustan Unilever and Axis Bank.The Sensex ended 78 points lower at 58,927 and Nifty 50 index slipped 15 points to close at 17,547.
Financiers are now awaiting policy hints from the US Federal Reserve's two-day conference ending later on in the day, consisting of when it would start tapering its bond purchasing and raising interest rates.
Nifty stays in a medium-term uptrend for targets of 18,000 and above; any significant correction is an excellent opportunity to buy.
Support for the September series is seen at 17,325 while resistance is anticipated at 17,600-17,770 levels.
Breach of 17,325 on the closing basis is anticipated to lead to offering pressure to listed below 17,000 levels.
Auto and Energy stocks trade with a positive bias while metals are anticipated to combine before resuming the uptrend, Sahaj Agrawal, Head of Derivatives Research Study at Kotak Securities said.Real estate shares witnessed strong buying interest in an otherwise drab session after Karnataka government minimized stamp task on flats between Rs 35-45 lakh to 3 per cent from 5 per cent.
The procedure of property shares on the National Stock Exchange - Nifty Real estate index leapt as massive 8.5 percent with shares like DLF and Godrej Properties rising more than 10 per cent each.Nifty Media index advanced over 13 per cent on the back of surge in Zee Entertainment shares, which closed 30 percent higher after it signed a merger handle Sony Pictures Networks.On the other hand, Nifty Bank, Financial Providers, Private Bank and FMCG indices closed lower.Mid- and small-cap shares surpassed their larger peers as Nifty Midcap 100 index advanced 0.7 percent and Nifty Smallcap 100 index increased 1.45 per cent.Coal India was the top Nifty gainer, the stock increased 3.61 percent to close at Rs 162.
Tech Mahindra, Hindalco, Tata Motors, Mahindra - Mahindra, Bharat Petroleum, JSW Steel, HCL Technologies, Indian Oil and Reliance Industries were likewise among the gainers.On the flipside, Nestle India, HDFC, ICICI Bank, ONGC, HDFC Bank, Kotak Mahindra Bank, Hindustan Unilever, Divi's Labs, Shree Cement and Britannia Industries were among the losers.The general market breadth was positive as 2,099 shares ended higher while 1,139 closed lower on the BSE.