Indian benchmarks end flat as earnings worries counter gains

MUMBAI: India’s benchmark indexes ended largely unchanged on Wednesday as concerns over slowing corporate profits and the increasing likelihood of fewer US rate cuts offset a rise in Reliance Industries and Tata Consultancy Services.

The Nifty 50 shed 0.08% to 23,688.95, while the BSE Sensex was down 0.06% at 78,148.49.

Both the benchmarks fell about 0.8% each during the session before paring losses in the last two hours.

Recent business updates from companies, including Dabur India and Hero MotoCorp, have not led investors to believe that corporate profit growth in the third quarter will be any better than the previous one, which was the worst in four years.