Indian shares gave up early gains to trade lower on Tuesday, tracking mixed cues from global markets and ahead of the Reserve Bank of India’s monetary policy decision due Wednesday.
The benchmark S&P/BSE Sensex slipped 0.2 percent to 60,394 while the broader NSE Nifty index was down 19 points, or 0.1 percent, at 17,746.
Tata Steel lost nearly 4 percent after it posted a surprise loss of Rs 2,501.95 crore in the quarter ended December 31 on account of higher expenses.
Hindalco tumbled 3 percent after its subsidiary Novelis reported lower-than-expected revenues.
Adani Enterprises rallied 3.5 percent. The promoters of the Adani group have prepaid loans worth $ 1.11 billion on Monday, thus releasing the pledged shares in three key companies. Group firm Adani Ports surged more than 4 percent.
JK Paper rose about 1 percent after its profit more than quadrupled in the third quarter.
UltraTech Cement rose half a percent on news it has commissioned a 1.5 mpta brownfield cement grinding mill in Jharsuguda, Odisha.
Bharti Airtel edged up slightly while Hero MotoCorp fell 1.3 percent ahead of their earnings results due today.
Muthoot Finance fell more than 1 percent as it reported an 11 percent drop in Q3 consolidated net profit.
Sensex, Nifty Give Up Early Gains
2023-02-07 04:32:34
