BSE Sensex flat; autos gain

MUMBAI (Reuters) – The BSE Sensex was trading flat on Tuesday as technology firms fell on worries about their outlook although auto makers gained after an industry body executive said it expected a revival in demand for vehicles.

The overall sentiment remained weak after a steep fall in the previous session, weighed down as Asian markets across the region remained under pressure over worries the U.S. Federal Reserve would start raising interest rates from mid-year.

“Markets are likely to trade volatile for the near-term. People are waiting and are looking for fresh cues. However, overall outlook remains intact,” said Suresh Parmar, head, institutional equities at KJMC Capital Markets.

The BSE Sensex was down 0.01 percent, while the broader Nifty gained 0.01 percent.

Both indexes posted their biggest daily falls since Jan. 6, 2015 on Monday.

Software services exporters continued to fall with Tata Consultancy Services losing 0.7 percent, adding to its 1.8 percent fall in the previous session after a weaker-than-expected guidance for the Dec-March quarter.

Wipro Ltd lost 1.01 percent.

Auto stocks however gained with Hero MotoCorp advancing 0.9 percent and Mahindra and Mahindra gaining 2.7 percent after an executive from the Society of Indian Automobile Manufacturers forecast a revival in demand for vehicles.

(Reporting by Indulal PM; Editing by Biju Dwarakanath)

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