Indian shares were moving in a narrow range on Monday, mirroring mixed cues from global markets.
A cautious undertone prevailed after Beijing reported a record number of Covid cases during its current outbreak.
The benchmark S&P BSE Sensex edged up 106 points, or 0.20 percent, to 54,433 in early trade, while the broader NSE Nifty index was little changed at 16,275.
Tata Steel shares slumped as much as 14 percent after the government levied export duties on certain steel products. SAIL, JSW Steel and Jindal Steel and Power plunged 10-13 percent.
ONGC, ITC and Hindalco lost 2-6 percent while Asian Paints, Apollo Hospitals, Mahindra & Mahindra, Hero MotoCorp, and Maruti Suzuki India climbed 2-3 percent.
Infosys gained around 1 percent. The IT major has reappointed Salil Parekh as its Chief Executive Officer (CEO) and Managing Director (MD) for the next five years.
Zomato was moving lower ahead of its earnings release.
One97 Communications, which operates under Paytm brand, declined 1.4 percent after it has formed a joint venture general insurance company.
Market Analysis
Sensex, Nifty Fluctuate In Early Trade
2022-05-23 04:30:01
