Sensex, Nifty End Flat Ahead Of Fed Meeting

(RTTNews) - Indian shares recouped early losses to end on a flat note on Tuesday, even as global markets continued to reel under selling pressure on worries over a potential Brexit from the European Union and ahead of key central bank meetings.

The Federal Reserve's two-day policy meeting gets underway later today, but no changes are expected in the wake of ongoing concerns about patchy global growth and renewed fears over the looming Brexit vote.

The rupee fell by 12 paise to quote at a fresh one-week low of 67.26 against the dollar in the afternoon trade, as a surprise spike in retail inflation to its highest level in 21 months and a rise in wholesale price inflation for the second straight month, dashed hopes of a rate cut by the Reserve Bank of India (RBI).

India's retail inflation climbed to 5.76 percent in May, compared with the revised 5.47 percent in April and 5.01 percent in May last year. Wholesale price-based inflation rose to 0.79 percent in May with vegetable prices witnessing a double-digit growth.

The benchmark BSE Sensex ended the session down 1.06 points at 26,395.71 after hitting as low as 26,264.81 in the afternoon.

The broader Nifty index slipped 1.75 points or 0.02 percent to finish at 8,108.85, with Hindustan Unilever, Ambuja Cement, BPCL and UltraTech losing 1-2 percent.

Mid-tier IT firm KPIT Technologies slumped 6 percent after Copart Inc. filed a suit against its unit Sparta on allegations of misappropriation of its trade secrets.

PSU banking stocks saw broad-based buying, with Bank of Baroda, SBI and PNB climbing 2-8 percent, after the RBI came out with a scheme for resolution of bad loans of troubled corporates.

Balaji Telefilms rallied 3.5 percent after Bombay High Court demanded for the release of Udta Punjab with just one cut.

Infrastructure firm IVRCL jumped 4.2 percent after allotting shares to Bank of Nova Scotia as part of a strategic debt restructuring.

A2Z Infra Engineering soared 9 percent on winning an order worth around Rs. 90 crore in Nepal.