Sensex, Nifty little changed; financials, IT stocks drag [Reuters]
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Source: Reuters
Sensex, Nifty little changed; auto stocks shine | Reuters 2 Min Read (Reuters) - Indian shares were little changed on Wednesday as gains in auto stocks on the back of solid monthly sales offset losses in IT counters after HCL Technologies Ltd posted a lower-than-expected March quarter profit. Sentiment across the globe was muted as investors await the U.S. Federal Reserve’s policy decision later in the global day for cues on the future pace of U.S. 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. “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, Sanctum Wealth Management. The broader NSE Nifty was down 0.09 percent at 10,729.60 as of 0552 GMT, while the benchmark BSE Sens
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