Sensex, Nifty Struggle For Direction In Early Trade

Indian shares struggled for direction on Wednesday, tracking mixed global cues and volatility in oil price movements.

The benchmark S&P BSE Sensex was little changed at 64,954, giving up early gains. The broader NSE Nifty index was up 20 points at 19,427.

Apollo Tyres jumped more than 5 percent after reporting over two-fold rise in Q2 profit.

SJVN rallied 2 percent on receiving a letter of intent for purchase of 200 MW solar power from Uttarakhand Power Corporation Limited.

InterGlobe Aviation fell about 1 percent on reports that it will see more than 70 planes grounded in Q4 due to engine issues.

Hero MotoCorp edged up slightly after announcing it would enter Europe with its electric vehicle Vida.

IRCTC dropped half a percent despite reporting a 30 percent rise in Q2 profit.

Cummins India was slightly higher on posting 23 percent growth in quarterly profit.

Market Analysis