Indian shares were subdued on Wednesday as investors awaited the release of U.S. inflation data later in the day that could influence the Federal Reserve’s policy path.
The benchmark S&P BSE Sensex was down 105 points, or 0.2 percent, at 67,115 in early trade while the broader NSE Nifty index was down 29 points, or 0.1 percent, at 19,964.
IT stocks traded weak, with TCS, Infosys and HCL Technologies all falling around 1 percent.
On the positive side, Power Grid Corp, BPCL, Britannia Industries, UltraTech and Grasim rose 1-2 percent.
SpiceJet rose about 1 percent after making payment of Rs. 100 crore to Sun Group chairman and former promoter of the airline Kalanithi Maran.
RITES rallied 2.1 percent after signing a pact with Caminho De Ferro De Moçâmedes (CFM) Angola for cooperation in the development of railways and related infrastructure.
L&T Finance Holdings was marginally lower after U.S.-based Bain Capital divested a 2.8 pe cent stake in the company for Rs. 910 crore through open market transactions.
KEC International soared 7 percent on winning new orders worth Rs. 1,012 crores across its various businesses.
Vakrangee climbed 1.1 percent after it entered into binding term sheet with private equity investor International Finance Corporation to acquire 8.8 percent equity stake in Vortex Engineering Private Limited.
Market Analysis
Sensex, Nifty Subdued In Early Trade; IT Stocks Drag
2023-09-13 04:14:28
