India, Sept. 18 -- Benchmark indices Sensex and Nifty closed nearly flat on Thursday as caution prevailed after the US Federal Reserve increased its interest rates and indicated further tightening in monetary policy.

Giving up intraday gains, the 30-share BSE Sensex dipped 21.86 points, or 0.03 per cent, to settle at 74,314.59. During the day, it climbed 341.11 points, or 0.45 per cent, to 74,677.56. The 50-share NSE Nifty closed higher by 53 points, or 0.23 per cent, at 23,270.60. The index hit a day's high of 23,363.55. Among the 30 Sensex firms, HDFC Bank, Titan, ICICI Bank, State Bank of India, Bharti Airtel and Axis Bank were the major laggards.

Tata Steel, Bharat Electronics, InterGlobe Aviation, Eternal, Maruti and Asian Paints w...