Sensex, shrewd fight for direction in early exchanges

(RTTNews) – Indian stocks struggled to orient themselves in early trade on Friday, following mixed global signals and rising oil prices.

The benchmark S&P BSE Sensex was slightly lower at 60,280 while the broader NSE Nifty index was down 2 points at 17,954.

Coal India, Apollo Hospitals Enterprise and IndusInd Bank fell 1-2% in the Nifty pack, while Larsen & Toubro, Kotak Mahindra Bank, ONGC, Adani Ports and Tech Mahindra gained 1-2%.

HDFC Bank and PNB fell after raising interest rates on deposits.

Mahindra & Mahindra has changed little despite reports that it is exploring the possibility of acquiring General Motors’ Talegaon plant in Maharashtra.

Reliance Industries dipped slightly while ONGC gained 1.6% after the government lowered windfall tax on domestically produced crude oil.

At the same time, the government increased the windfall tax on diesel export and reinstated a tax on jet fuel exports.

Max Healthcare Institute fell 2.3% after HDFC Asset Management Company increased its stake in the company.

Wipro rose 1.2% after signing a multi-year contract to provide integration and service management services to the UK Treasury.

JK Tire Industries fell more than 1% after raising prices 6-7%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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