|Published : 23 Sep 2016, 13:42:27|
Indian shares flat after Fed decision
Indian shares traded flat on Friday, taking a pause after the US Federal Reserve's decision to stand pat on interest rates sparked a rally in the previous session, but indexes were still headed for a weekly gain.
The Fed decision is sparking hopes of additional foreign investments into emerging markets such as India, with MSCI's broadest index of Asia-Pacific shares outside Japan trading at near 14-month highs.
The broader NSE index was up 0.02 per cent at 8,869.05 as of 0641 GMT after rising 1.0 per cent on Thursday. It had gained 1.0 per cent this week as of Thursday's close.
The benchmark BSE index was 0.03 per cent lower at 28,763.70.
Financial and consumer stocks were the biggest drag on the NSE index with some sectors witnessing profit-booking.
The Nifty Bank index was down 0.44 per cent after Thursday's 1.42 per cent rise. Axis Bank was the top percentage loser with a drop of as much as 5.11 per cent.
The Nifty FMCG index, which gained 0.26 per cent in the previous session, was down 0.28 per cent, according to a news agency.