(RTTNews) – Indian shares gave up early gains to end on a flat note Thursday, though key benchmark indexes ended in the green for the fourth day running amid the April series derivatives expiry.
Solid earnings reports from blue-chip companies, Fed Chair Jerome Powell’s dovish comments on Wednesday and the relief support and medical aid supplies pouring into India from around the world helped investors look past soaring COVID-19 cases at home.
The benchmark 30-share BSE Sensex ended the session up 32.10 points, or 0.06 percent, at 49,765.94 amid heightened volatility. The broader NSE Nifty index inched up 30.35 points, or 0.20 percent, to settle at 14,894.90.
The rupee also rose for the fourth day, rising by 29 paise to close at 74.07 (provisional) against the U.S. dollar after the Federal Reserve said it wasn’t time to start talking about tapering its asset purchases.
Higher commodity prices helped lift metal stocks, with JSW Steel surging as much as 9.6 percent. Tata Steel soared 6.6 percent and Hindalco added 2.2 percent.
Financials and automakers led declines, with HDFC, SBI, Bajaj Auto, Eicher Motors and Hero MotoCorp falling 1-2 percent on the NSE.