BENGALURU: Indian shares closed on a flat note on Thursday, giving up gains from earlier in the session, as the rise in information technology and metal stocks was offset by losses in realty and banks.

The NSE Nifty 50 index was up 0.03% at 16,682.65, while the S&P BSE Sensex rose 0.06% to 55,702.23, with the indexes snapping three consecutive sessions of losses.

The benchmark indexes rose over 1% earlier in the day, tracking gains in the broader market after the US Federal Reserve said it was not “actively considering” a 75 basis-point rate hike, tempering some market expectations for an aggressive tightening path.

The indexes closed over 2% lower on Wednesday, having posted their biggest intraday percentage loss since March 7 earlier in the session, after India’s central bank hiked benchmark rate in a surprise move.

The Indian rupee strengthened as much as 0.58% at 75.97 against the dollar earlier in the session, its highest level since April 12. It settled at 76.25.