Indian shares were marginally higher on Wednesday, with metal and auto stocks pacing the gainers.
The benchmark S&P BSE Sensex was little changed at 73,061 in early trade, while the broader NSE Nifty index was up 5 points at 22,202.
Eicher Motors, JSW Steel, Mahindra & Mahindra, Tata Steel and Hindalco jumped 1-2 percent in the Nifty pack, while Axis Bank, Infosys, Bajaj Auto and Power Grid Corp all fell around 1 percent.
Hindalco Industries rallied 2.6 percent after its subsidiary Novelis filed for an initial public offering.
Union Bank of India surged 4.3 percent after announcing a Rs. 3,000-crore QIP issue.
Raymond added about 1 percent after launching a luxury residential project in Mumbai.
Shares of Zee Entertainment Enterprises plunged 10 percent. Market regulator SEBI has unearthed a financial discrepancy exceeding $240 million or around Rs. 2,000 crores in the accounts of the company, according to a Bloomberg report.
Ashok Leyland climbed 1.2 percent on news it is setting up a new integrated commercial vehicle plant focused on green mobility in Uttar Pradesh.
Wipro edged up slightly after launching an Enterprise Artificial Intelligence (AI)-Ready Platform.
Whirlpool of India was slightly higher. Promoter Whirlpool Mauritius sold 3,03,89,239 equity shares, which is equivalent to 23.95 percent stake in the company via open market transaction.
Market Analysis
Sensex, Nifty Marginally Higher In Early Trade
2024-02-21 04:10:14
