The markets closed flat on Wednesday with the BSE Sensex and the NSE Nifty closing with minor gains while the Nifty Bank ended in the red.

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The Nifty closed 15 points higher at 10,417, with Reliance and TCS its major contributors.

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Asian stocks came under pressure as the threat of imminent US military action in Syria rattled investors and sent oil prices to their highest levels since late 2014 on concerns about supply.

US crude futures traded at $66.79 a barrel, having risen 7.6% so far this week. They have traded as high as $67.45, a level last seen in December 2014.

Gold stood at $1,353.10 per ounce, having climbed to $1,365.30. A break above its January 25, 2018, high of $1,365.8 would take the yellow metal to a high last seen in August 2016.

The dollar eased to 106.82 yen, having lost momentum after hitting a five-week high of 107.49 a week ago.

Apple Inc appointed a new executive Oliver Schusser as vice president of Apple Music to oversee its Apple Music streaming business and hit 48 million subscribers. He will report directly to Apple senior vice president Eddy Cue.

Markets regulator Sebi asked Sahara Mutual Fund to wind up all its schemes.All schemes, except one, have to be wound up by April 21, 2018. However, the fund house has been allowed to continue its Sahara Tax Gain Fund' till July 27 but without accepting any new investor. This particular scheme has to be wound up by August 27, 2018.

Larsen & Toubro (L&T) announced it would manufacture defence products and systems for domestic and export markets in partnership with the state-run Bharat Electronics Ltd (BEL).

In order to make REITs and InvITs more attractive, SEBI said they will have to provide a mechanism for resolution of disputes with their shareholders and partners in the holding company.

Singapore Exchange Ltd (SGX), as per reports, said it will list new India equity derivative products in June and will also delist derivatives contracts, including the Nifty futures, based on the partnership with the National Stock Exchange of India Ltd.

First Published:Apr 12, 2018 8:07 AM IST