Indian Stocks Close Flat Amid US Rate Hike Caution

India's stock markets closed nearly flat on Thursday after the US Federal Reserve increased interest rates and indicated further tightening in monetary policy.

The Sensex, which measures the performance of 30 large-cap companies, dipped 21.86 points, or 0.03 per cent, to settle at 74,314.59. The Nifty, which tracks the 50 largest traded companies on the National Stock Exchange, closed marginally up 53 points, or 0.23 per cent, at 23,270.60.

Among the Sensex firms, HDFC Bank, Titan, ICICI Bank, State Bank of India, Bharti Airtel, and Axis Bank were major laggards, while Tata Steel, Bharat Electronics, InterGlobe Aviation, Eternal, Maruti, and Asian Paints gained.