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Sensex ends marginally lower, Nifty holds 10,400; PSU banks outperform

All that happened in the market today

Markets, Up, Down, BSE, NSE, Stocks
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Benchmark indices  pared gains to ended flat amid choppy trade on Tuesday dragged mainly by IT stocks.

The S&P BSE Sensex ended at 33,857, down 61 points while the broader Nifty50 index settled at 10,427, up 5 points.

India’s retail inflation eased to 4.44 per cent in February from 5.1 per cent in January, but remained above the 4 per cent medium-term target of the Reserve Bank of India.

IT stocks lead the decline dragged by Tata Consultancy Services, which posted its biggest intraday percentage fall since November 2016 after a term sheet showed that parent Tata Sons is set to sell a stake in the company.

Meanwhile, financial stocks gained, with the Nifty PSU bank index rising 2.3%. Punjab National Bank rose 3% and Andhra Bank gained 11%.

Globally, Asian stocks edged up on Tuesday with technology shares buoyed by gains in their Wall Street peers, but gains were limited ahead of US inflation data later in the day which could offer clues on the pace of interest rate rises this year.
(with wire inputs)