Indian shares struggled for direction on Wednesday amid worries about slowing global growth and caution ahead of a meeting of the European Central Bank, which may act to slow down its massive bond-buying program in light of recent stronger-than-expected inflation data.
The benchmark BSE Sensex edged up 13 points to 58,292 in early trade, while the broader NSE Nifty index was virtually unchanged at 17,362.
Dr Reddy’s Laboratories shares traded flat. The drug maker said it has started supplying the first dose component of the Russian COVID-19 vaccine Sputnik V to partner hospitals all over the country.
Wipro lost 1 percent after announcing a partnership with Securonix to deliver managed security services.
EID Parry India advanced 1.4 percent. The company has approved the establishment of a 120 KLPD grain/sugar syrup/molasses-based distillery at Sankili unit in Andhra Pradesh.
ICRA rose half a percent. Life Insurance Corporation of India has reduced its shareholding in the company to 5.81 percent from 7.96 percent earlier.
Bharti Airtel gained 1.5 percent and Vodafone Idea jumped 6 percent amid reports that the government is preparing a relief package to ensure that the financially-stressed telecom sector doesn’t become a duopoly.
Maruti Suzuki was down about 1 percent. The car maker informed exchanges that its production fell 7.9 percent to 1.14 lakh units in August on an annual basis.
Market Analysis
Sensex, Nifty Struggle For Direction
2021-09-08 04:21:42
