Despite positive global cues, domestic equity markets erased initial gains and closed Wednesday’s trading session on a flat note.

The Sensex at the Bombay Stock Exchange (BSE) ended 16 points down at 28,507 and the Nifty at the National Stock Exchange (NSE) closed one point up 8,777.

On Tuesday, the Sensex had closed 111 points down at 28,523 and the Nifty had closed 33 points lower at 8,776.

The Bank of Japan (BoJ) kept deposit rate steady at minus 0.1 per cent after the conclusion of its two-day monetary policy meeting on Wednesday. The US Federal Reserve is also expected to keep interest rates unchanged later during the day.

Back home, broader markets closed with mixed moves. BSE Midcap index slipped 0.1 per cent while Smallcap index jumped 0.2 per cent.

Among the BSE sectoral indices, Consumer Durables index closed with the biggest gain, up by 0.9 per cent, while FMCG index closed with the biggest decline, down 0.6 per cent. 

Top gainers in the Sensex-30 pack: Tata Steel (up 0.9 per cent), HUL (up 0.8 per cent), Axis Bank (up 0.8 per cent), Bharti Airtel (up 0.7 per cent) and Infosys (up 0.6 per cent).

Top losers in the Sensex-30 pack: Power Grid (down 1.4 per cent), ITC (down 1.2 per cent), SBI (down 1 per cent), ICICI (down 0.7 per cent) and Gail (down 0.6 per cent).

Meanwhile, the Rupee was trading one paisa down at 67.02 against the US Dollar.