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Sensex ends flat, Nifty holds 9,600

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Sensex

Mumbai: Indian shares ended Thursday's range-bound session on a flat note. The Sensex closed 8.21 points lower at 31,137.59, while the Nifty50 index shed 5.15 points to settle above the important psychological level of 9,600. Meanwhile, the midcap and smallcap shares outperformed the broader indices today. The BSE Midcap index closed 0.48 per cent higher and the BSE Smallcap index added 1.02 per cent.

The BSE Sensex and Nifty opened marginally lower on Thursday and traded in a narrow range throughout the day. This reaction followed data out late on Wednesday showing India was no longer the world's fastest-growing major economy after posting gross domestic product (GDP) growth of 6.1 percent in January-March from a year earlier, well below expectations for 7.1 percent and China's 6.9 percent annual expansion in the first quarter.

Analysts expect the Reserve Bank of India (RBI) to hold its policy repo rate at 6.25 percent on June 7 and issue a less hawkish statement than at its last meeting.

The economy is, however, still expected to post stronger economic growth going forward, a view that spurred Indian shares to record highs last month.

Among Nifty stocks, Adani Ports and SEZ was the top gainer rising 3 per cent followed by HUL and Bharti Infratel, which added 2.65 and 2.63 per cent respectively. Meanwhile, Indian Oil was the top loser in Nifty, down 3.63 per cent followed by Vedanta and ICICI Bank.

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