Nifty ends flat as investors remain wary of poll results

Nifty ends flat as investors remain wary of poll results

Key benchmark indices consolidated on Wednesday as investors remained wary of mounting aggressive bets and booked profits ahead of the general elections results due on Friday.

Investor sentiment in D-Street was also subdued after consumer price inflation (CPI) numbers for April, released on Monday, showed that retail inflation rose from 8.3 per cent in March 2014 to 8.6 per cent in April 2014. An increase in inflation will only delay the potential easing of policy rates by the RBI, as per analysts.

The market breadth, indicating the overall health of the market was positive even as the 50-unit CNX Nifty at NSE ended unchanged for the day. The BSE Sensex shed 56.11 points or 0.24 per cent and it was off 149.55 points from the day's high and up 61.76 points from the day's low.  From the broader markets, the BSE Small-Cap and BSE Mid-Cap indices rose more than 1.0 per cent each.

The barometer index of the BSE edged lower in choppy trade as investors awaited the outcome of the recently concluded Lok Sabha election after expectations of a coalition led by business-friendly Bharatiya Janata Party (BJP) emerging victorious in the election sent stock prices surging during the past three trading sessions.

Index heavyweight Reliance Industries witnessed profit taking after the stock hit a 52-week high of Rs 1,067 on the BSE.