Sensex, Nifty50 end flat ahead of US Fed meet; Tata Motors, Wipro slip 2% each

Technology companies led a bounce in European stocks as a global selloff that started in the sector last week showed signs of abating. The pound managed to advance as Theresa May survived a showdown with rank-and-file lawmakers and sought to prop up her minority government. Almost every industry group in the Stoxx Europe 100 Index traded in the green, with technology shares poised for the largest gain in three weeks.

Visesh Infotec (down 33.33 per cent), Pan India Corp (down 16.67 per cent), Northgate Com (down 10.00 per cent), Uttam Value Stl (down 9.09 per cent), Compuage Infocom (down 7.69 per cent), High Ground Ent (down 6.23 per cent), Peria Karamalai (down 5.43 per cent), Omkar Speciality (down 4.98 per cent), Kesar Enterpr (down 4.97 per cent) declined over 5 per cent on June 13.

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">China’s debt downgrade could see more funds flowing to India instead, but I don’t think it will be significant. <a href="https://t.co/E4wwd8SDGy">https://t.co/E4wwd8SDGy</a></p>&mdash; Mark Mobius (@MarkMobius) <a href="https://twitter.com/MarkMobius/status/874536995493629953">June 13, 2017</a></blockquote>

Shares of LCC Infotech (up 25 per cent), Dhunseri Invst (up 20 per cent), DIC India Ltd (up 19.99 per cent), Blue Blends (up 19.21 per cent), Satin Creditcare Network Ltd. (up 17.64 per cent), PG Electroplast (up 14.68 per cent), Madhucon Proj (up 14.67 per cent), REI Agro (up 14.29 per cent), Saregama India (up 13.47 per cent), Gyscoal Alloys (up 12.50 per cent), Balaji Telef (up 12.00 per cent) were trading over 5 per cent higher.

Shares of Shreyas Shipping and Logistics advanced 15 per cent in Tuesday's trade after the company informed bourses that it has signed a joint venture agreement with Japan's Suzue Corporation.

Infosys flagged &lsquo;activist shareholders&rsquo; who divert attention of the company&rsquo;s board and management, and negative media coverage over the past twelve months, as official risks in its annual filing to the US Securities and Exchange Commission.

Shares of Dhunseri Investments, Simplex Infra, Balaji Telefilms, Sona Koyo Steer, Hilton Metal, Repco Home Fin, Lumax Ind, Emami Infra, Keynote Corp, Paramount Comm, Delta Magnets, PG Electroplast, Cubex Tubings, Khaitan (India), Emkay Global, Magnum Ventures, Munjal Auto Ind, Cox & Kings, NOCIL Ltd and Premier Explosives hit their fresh 52-week high today.

Global markets were on the tenterhooks on Monday ahead of the US Federal Reserve’s rate-setting meeting that kicks off on Tuesday. While the Federal Reserve expected to hike the policy rate this time, markets will also keenly watch its communication on US economic growth and future rate hike trajectory.

The S&P BSE Telecom was trading 0.35 per cent higher at 1,282.12. Shares of ITI (up 2.07 per cent), Reliance Communications (up 1.09 per cent), Mahanagar Telephone Nigam (up 0.90 per cent), Himachal Futuristic Communications (up 0.70 per cent) and Bharti Airtel (up 0.44 per cent) were among the top gainers.

Shares of Wipro declined over 1.5 per cent in early trade as the stock was trading ex-bonus on Tuesday in the ratio of 1:1. The scrip was trading 0.38 per cent down at Rs 262.15 around 9.50 am (IST). Shares of the company opened at Rs 261.80 and touched a high and low of Rs 266.70 and Rs 258.80, respectively, in trade so far. Benchmark BSE Sensex was up 64.10 points, or 0.21 per cent, at 31,159.80.

Shares of Reliance Capital were trading higher in Tuesday's after the company informed bourses that board of directors of Reliance General Insurance Company Ltd (RGI), a 100 per cent subsidiary of Reliance Capital approved a proposal to independently list the company on the stock exchanges on Monday.

Shares of Sun Pharmaceutical (up 2.87 per cent) were the top gainer pharma shares in Tuesday's early trade after the pharma major has received USFDA approval for generic Zetia tablets. Zetia has market size of $2.7 billion in US, according to reports. It was followed by Lupin (up 1.30 per cent), Aurobindo Pharma (up 1.19 per cent), Divi's Laboratories (up 0.72 per cent) and Piramal Enterprises (up 0.30 per cent).

The rupee opened on a flat note at 64.44 against dollar on Tuesday ahead of the US Federal Reserve policy meeting kick starting Tuesday. The local currency on Monday weakened by 20 paise to settle at a one-week low of 64.44 against the US currency.

Sensex up over 40 points; rupee opens at 64.43 against US dollar.

The breach of the 9,550 zone will bring in some more weakness to the market. For Tuesday, the 9,600 and 9,550 levels will act as important supports. On the upper side, the 9,650-9,675 zone will act as immediate resistance.

Oil edged up on Monday on signs of inventory declines in the United States and news that Saudi Arabia will limit volumes of crude to some Asian buyers in July and deepen cuts to the United States, reports Reuters. Brent crude futures ended the session up 14 cents, or 0.3 per cent at $48.29 a barrel, having risen as much as 2 per cent to a session high of $49.15. WTI crude futures gained 25 cents, or 0.6 per cent, to settle at $46.08, having peaked at $46.71.

The rupee closed over one week low against the US dollar tracking losses in the global equity and currencies markets. Traders are cautious ahead of the key macro economic data due later on Monday. The domestic currency closed at 64.44&mdash;a level last seen on 1 June, down 0.29% from its Friday&rsquo;s close of 64.25.

Technology stocks dragged US markets lower in overnight trade. Apple, Alphabet, Facebook and Microsoft continued to be sold off for the second consecutive day, which dragged the Nasdaq down 0.5 per cent, the S&P500 0.1 per cent and the Dow Jones Industrial Average 0.2 per cent.

Asian stocks crept higher on Tuesday. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.1 per cent in early trade, reported Reuters. Japan's Nikkei slipped 0.3 per cent while South Korea's KOSPI gained 0.3 per cent.

At 6.30 am, Nifty50 futures on the Singapore Stock Exchange were trading 24 points, or 0.25 per cent, higher at 9,649, indicating a possible positive start for the domestic market

The domestic equity market ended on a negative note on Monday ahead of key economic releases scheduled for later in the day and the crucial Fed rate-setting meeting that begins on Tuesday. The S&P BSE Sensex tanked 167 points to end the session at 31,095 with Larsen & Toubro (down 2.29 per cent), Tata Motors (down 2.29 per cent), Wipro (down 1.95 per cent) and ICICI Bank (down 1.88 per cent) being the main drags on the index.