Business Standard

Markets move in narrow range, close flat


Indian shares moved in a narrow band and were largely unchanged on Wednesday as investors remained on the sidelines.
The benchmark BSE index ended at 35,591, barely 1.25 points down from Tuesday's close. The broader NSE 50 index was down by 0.40 points at 10,651.
Losses in Housing Development Finance Corporation were curbed by gains in Axis Bank and ICICI Bank.
The focus of investors had shifted to a media report which alleged financial misappropriation by controlling shareholders of Dewan Housing Finance Corporation. The company's stock slumped nearly 8.5 per and closed 4.9 per cent lower.
Among other losers were TCS, Reliance, ITC, and Yes Bank. Tata Steel, Axis Bank, Bajaj Finance and HCL Tech gained marginally.
Meanwhile, Asian indices closed mixed with investors saying that US-China trade talks are going to be the next catalyst for equities going forward.

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First Published: Jan 30 2019 | 4:48 PM IST

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