Sensex, Nifty end flat; metal stocks shine

Indian benchmark equity indices closed on a flat note on Wednesday amid volatility. Sensex ended 28.73 points or 0.05% lower at 54,525.93, while NSE Nifty inched up 2.15 points or 0.01% to 16,282.25. Tata Steel, closing nearly 3.86% higher, was the top Sensex gainer followed by NTPC, PowerGrid, Reliance Industries and Bajaj Finserv. On the other hand, Kotak Bank, Bajaj Auto, Sun Pharma and ICICI Bank were among the laggards. Measures taken by BSE to curb excessive price movement in smaller stocks had triggered selling pressure in small and mid-cap stocks in previous sessions. However, a clarity from the exchange on limiting its restrictions to penny stocks gave investors some relief. BSE clarified that the new surveillance measure will be applicable only on securities worth Rs 10 or above and having a market capitalisation of less than Rs 1,000 crore. The exchange further added that the said framework is applicable to BSE exclusive securities in groups including X, XT, Z, ZP, ZY, Y. On the other hand, heavy buying in Tata Steel and Reliance Industries curb the downside. In Asia, stock exchanges in Shanghai, Hong Kong and Tokyo settled with gains, while Seoul was in the red. Equities in Europe were in the green in afternoon trade.