Mkts settle flat in volatile session

Mumbai: Benchmark Sensex slipped by 45 points in highly volatile trade on Wednesday due to selling in private bank and IT shares amid weak Asian markets and continuous foreign fund outflows. Declining for the second straight session, the 30-share BSE Sensex fell 45.46 points or 0.06 per cent to settle at 73,466.39. During the day, it declined by 437.93 points or 0.59 per cent to 73,073.92.

The NSE Nifty remained unchanged at 22,302.50. “The Indian market echoed subdued investor sentiments akin to those of its Asian peers, and on worries about declining voter turnout. Despite domestic Q4 earnings largely meeting estimates, the earnings landscape appears to be moderating. A sector-specific action was visible in FMCG and auto stocks, aided by an expectation of a revival in rural demand in H1FY25,” said Vinod Nair, head (research), Geojit Financial Services.

“Investors traded with caution due to lack of fresh positive triggers and ended on a flat note with a slightly negative bias amid selective profit-taking in banking and IT stocks. Firm European market cues also failed to fuel optimism, as no stoppage in foreign fund outflows and no major surprises in the ongoing earnings season prompted investors to stay guarded.