Indian shares swung between gains and losses on Wednesday before ending on a flat note. Gains in financial stocks were offset by losses in IT and metal counters.
Weakness across European markets dented sentiment. Asian equities snapped eight successive sessions of gains as global growth worries returned to haunt investors.
Major European indexes fell about 1 percent in early trade as investors looked ahead to Thursday’s European Central Bank meeting for hints on tapering plans.
The benchmark 30-share BSE Sensex rebounded from lows in the afternoon trade to finish at 58,250.26, down 29.22 points, or 0.05 percent, from its previous close.
The broader NSE Nifty index slipped 8.60 points, or 0.05 percent, to end at 17,353.50.
Hindalco, SBI Life, Wipro, Nestle India and Divis Laboratories fell 1-2 percent in the Nifty pack, while Kotak Mahindra Bank, which is seeking inorganic opportunities in the financial services space, jumped as much as 3.6 percent.
Coal India, BPCL, Grasim and Power Grid Corp all rose about 2 percent.
Heavyweight Reliance Industries ended half a percent lower to snap five sessions of gains.
Vodafone Idea ended 1.8 percent lower, after having risen nearly 8 percent earlier in the day amid reports that the government is preparing a relief package to ensure that the financially-stressed telecom sector doesn’t become a duopoly.
Sensex, Nifty End Choppy Session Marginally Lower
2021-09-08 10:58:46
