BSE Sensex closed 16.06 points up at 35,176.42, while the Nifty 50 ended 21.30 points lower at 10,718.05. Here are the highlights from the markets

BSE Sensex closed little changed, while NSE Nifty settled 21 points lower dragged by metal and PSU bank stocks, offsetting gains in auto stocks. Sentiment across the global equity markets was muted as investors await the US Federal Reserve’s policy decision later in the day. Economists have penciled in three gradual interest rate hikes this year, but the Fed has signalled in March the path of future rate hikes could be “slightly steeper” over the next few years than previously thought, Reuters reported. Here are the highlights from the markets:

3.34 pm IST
BSE Sensex closed higher by 16.06 points, or 0.05%, to 35,176.42, while the Nifty 50 fell 21.30 points, or 0.20%, to close at 10,718.05. All the sectoral indices on BSE, except energy and finance, ended lower, with metal, basic materials, consumer durables and realty losing most. On NSE, Nifty PSU Bank fell 2.49%. BSE MidCap and SmallCap declined 1.17% and 1.15%, respectively. Kotak Bank, ITC, Asian Paints and HDFC were top gainers, whereas Tata Steel, ICICI Bank, Hindustan Unilever and Sun Pharma were among the major losers.

2.50 pm IST
Market update
BSE Sensex traded lower by 40.36 points, or 0.11%, to 35,120, while the Nifty 50 fell 17 points, or 0.16%, to 10,722.35.

2.45 pm IST
Bond yields fall after RBI raises FII cap
Bond yields fell after the Reserve Bank of India on Friday scrapped the residual maturity requirement for purchases by overseas investors of three years, and raised the cap for foreign ownership of any government security to 30% from 20%. The yield on bonds maturing in 2021 slumped 10 basis points to 7.47%, while that on notes due in 2022 slipped six basis points to 7.72%. Yields on 10-year government bond stood at 7.735% from its previous close of
7.767%. Bond yields and prices move in opposite directions.

source: livemint.com