Market Closing Bell: Nifty 50, Sensex end flat; mid, smallcaps outperform
Equity benchmarks Nifty 50 and Sensex ended flat on Monday, tracking weak global cues as sentiment remains fragile on concerns of higher interest rates and faltering economic growth.
Investors are confused amid the mixed signals from major central banks in the world. Last week, the US Fed maintained its pause on interest rates but signalled it was ready for at least one ore hike by the end of the year. On the other hand, the European Central Bank (ECB) and the Bank of England (BoE) hinted rates may not go further higher.
Concerns are growing that if the Fed keeps rates at higher levels for the longer time, it will deal a blow to the possibility of a soft landing of the US economy. Weakness in the US economy will have an impact on major economies across the globe.
Nifty 50 closed the day absolutely flat at 19,674.55 while the Sensex settled at 66,023.69, up 15 points.
(More to come)
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Updated: 25 Sep 2023, 03:44 PM IST
