Authors: TheIndianSubcontinent News AgencyHCL Technologies fell 5 per cent after its March-quarter profit came in below analysts' estimates.
Sensex and Nifty ended mixed today.
Gains in select banking stocks were offset by losses in metal and IT stocks.
Sentiment across the globe was muted as investors await the US Federal Reserve's policy decision later in the global day for cues on the future pace of US monetary tightening.
The Fed is seen set to hold interest rates steady but will likely encourage expectations that it will lift borrowing costs in June on the back of rising inflation and low unemployment.The Sensex ended 16 points higher at 35,176 while Nifty edged 21 points lower to 10,718."Global cues are weighing on the markets It is now running into macro headwinds - crude, spike in the 10-year yield, valuations on market-end as a whole are high," said Sunil Sharma, chief investment officer of Sanctum Wealth Management.Stock markets were closed on Tuesday for a public holiday.Shares of Bajaj Auto Ltd gained after the company posted a 26 per cent jump in total vehicle sales for April.
Dabur India rose after posting a 19 percent rise in its fourth-quarter profit on Tuesday.Public sector banks fell on non-performing asset woes, Mr Sharma said.
The Nifty PSU bank index dropped 2.5 per cent with Indian Bank shedding nearly 5 per cent.However, private sector lenders inched higher with Kotak Mahindra Bank rising 4 per cent after the lender posted a 15 percent rise in March-quarter profit on Monday.
Another private sector bank, Axis Bank, rose 1.5 per cent.
HDFC and HDFC Bank rose over 1 per cent.HCL Technologies fell 5 per cent after its March-quarter profit came in below analysts' estimates.
Among metal stocks, Vedanta fell 5 per cent while Tata Steel and Hindalco fell over 3 per cent.