Nifty erases earlier losses, ends flat on metal firms

MUMBAI (Reuters) - The Nifty ended flat on Tuesday, rebounding from earlier losses on the back of a late rally in metals and mining stocks such as Jindal Steel and Power Ltd that had lagged the index in recent weeks.

That late spurt help indexes recover from earlier disappointment, when the Nifty had fallen as much as 0.8 percent, led by a decline in lenders after the Reserve Bank of India (RBI) left interest rates on hold.

The BSE Sensex rose 0.04 percent to end at 28,516.59, while the Nifty ended flat at 8,660.30.

Jindal Steel and Power Ltd , which has lost close to 17 percent of its share price in the last one month, gained 6.8 percent in the session.

 

Tata Steel Ltd ended 5.1 percent higher, while Sesa Sterlite Ltd closed up 3.6 percent.

(Reporting by Himank Sharma; Editing by Anand Basu)