Sensex, Nifty flat; ICICI Bank, Infosys fall

Reuters Market Eye - The BSE Sensex and the Nifty are flat on Wednesday. Asian shares slipped to their lowest this year on Wednesday as uncertainty over when the U.S. Federal Reserve would begin scaling down its massive stimulus programme fanned worries about funds flowing out of the region.

Lenders such as ICICI Bank falls 0.3 percent on continued uncertainty over rate cuts and on caution as foreign investors sold index futures.

Foreign institutional investors (FIIs) sold 33 billion rupees worth of index futures in the last two trading sessions, indicating they are bracing for lower levels in cash shares in the near term, dealers say.

 

Infosys Ltd falls 0.6 percent after recent gains on bets the return of founder and former chairman N.R. Narayana Murthy as executive chairman would improve the company's outlook were seen as overdone. Search service provider Just Dial Ltd gains 15.3 percent in its stock market debut from its initial public offer price after the company raised about $165 million last month in the country's biggest listing this year.

(Reporting by Abhishek Vishnoi)