Indian shares were fluctuating in early trade on Thursday despite firm cues from global markets.
Investors watched the evolving COVID-19 situation in the country after a sudden rise in positive cases in countries such as the U.S., Japan, Korea, Brazil and China caused concern among Indian authorities.
The benchmark S&P BSE Sensex slipped 20 points to 61,045, giving up early gains. The broader NSE Nifty index was marginally lower at 18,192.
IndusInd Bank, Eicher Motors, BPCL, UPL and Tata Motors fell 1-2 percent, while Bharti Airtel, HCL Technologies and Sun Pharma rose 1-2 percent.
Spicejet fell about 2 percent on reports that it is looking to settle dues of aircraft lessors.
Reliance Industries was marginally higher after its retail arm Reliance retail acquired Metro AG’s wholesale operations in India for Rs. 2,850 crore.
One97 Communications (Paytm) was down nearly 1 percent. CEO Vijay Shekhar Sharma said that there will be no more cash burn in the business, and it would become cash flow positive in the next 12-18 months.
Bandhan Bank was moving lower despite news that it has received bids worth Rs. 801 crore from an asset reconstruction company for the written off portfolio with an outstanding of Rs. 8,897 crore.
Sensex, Nifty Give Up Early Gains
2022-12-22 04:12:19
