BSE Sensex ends flat; shares in IT companies fall

The BSE Sensex index ended flat on Wednesday, off the record highs hit a day earlier, as IT outsourcing companies fell on concerns about their revenues, while investors also booked profits in recent outperformers such as ONGC.

Shares of Tata Consultancy Services fell as much as 5.1 per cent. Global risk factors also weighed on shares ahead of the U.S. Federal Reserve's policy review later in the day and as investors still monitor developments over Crimea and Ukraine. 

"Index continues to trade in a narrow range with high intraday volatility and extreme stock-specific actions," said Vinod Nair, Head-fundamental research, Geojit BNP Paribas Financial Services. The Sensex ended up 0.25 points at 21,832.86. The Nifty closed higher 0.11 per cent, or 7.40 points, at 6,524.05.

TCS shares ended down 3.89 per cent after analysts cited the company as expressing caution about revenue growth in the current quarter at a briefing on Tuesday. The software services exporter declined to comment.Investors also booked profits on recent outperformers. Oil and Natural Gas Corp  closed 3.43 per cent lower after surging 18 per cent since the end of January to Tuesday's close.

Indexes received some support as investors continued to favour selective blue chips such as ITC  and HDFC Bank. Hindalco Industries closed 4.53 per cent higher and Jindal Steel and Power  ended up 1.46 per cent. Shares of Polaris Financial Technology  surged by 20 per cent.