Indian shares ended a choppy session on a flat note Tuesday, tracking mixed global cues as the fear of inflation returned to haunt investors ahead of key U.S. inflation data, due on Thursday.
With price pressures growing, there are fears that the Federal Reserve is heading closer to begin discussions about tapering of the asset purchase program.
The benchmark 30-share BSE Sensex ended the session down 52.94 points, or 0.10 percent, at 52,275.57 while the broader NSE Nifty index settled at 15,740.10, down 11.55 points, or 0.07 percent, from its previous close.
Broader markets outperformed, with Nifty Midcap 100 index and Nifty Smallcap 100 index rising half a percent as India reported less than 1 lakh new daily COVID cases for the first time in 63 days.
HDFC, Kotak Mahindra Bank, JSW Steel, Tata Steel and Hindalco fell 1-2 percent in the Nifty pack, while HCL Technologies, IOC, Bharti Airtel, Tech Mahindra and Tata Motors climbed 2-3 percent.
Shares of Gautam Adani-led power producer – Adani Power – soared 20 percent to hit a record high on the back of heavy trading volumes. The stock has jumped a whopping 57 percent in the last four trading sessions.
Dewan Housing Finance shares jumped 10 percent as the National Company Law Tribunal (NCLT) approved Piramal Group’s overall resolution plan for the beleaguered mortgage lender.
The debt-ridden company in an exchange filing said that its shares would be delisted as part of a resolution plan.
Market Analysis
Sensex Drops 53 Points; Nifty Ends At 15,740
2021-06-08 10:57:50
