Sensex flat; Infosys falls, Just Dial soars on debut

The BSE Sensex and the Nifty are flat. Asian shares slipped to their lowest this year on Wednesday as uncertainty over when the U.S. Federal Reserve would begin scaling down its massive stimulus programme fanned worries about funds flowing out of the region.

Lenders such as ICICI Bank declined 0.3 per cent on continued uncertainty over rate cuts and on caution as foreign investors sold index futures.

Foreign institutional investors (FIIs) sold Rs 3,300 crore worth of index futures in the last two trading sessions, indicating they are bracing for lower levels in cash shares in the near term, dealers say.

Infosys fell 0.6 per cent after recent gains on bets the return of founder and former chairman N.R. Narayana Murthy as executive chairman would improve the company's outlook were seen as overdone.

Search service provider Just Dial gained 15.3 per cent in its stock market debut from its initial public offer price after the company raised about $165 million last month in the country's biggest listing this year.
 

Copyright Thomson Reuters 2012