Sensex, Nifty Fluctuate In Early Trade; Metal And IT Stocks Gain,Indian shares fluctuated in early trade on Thursday amid concerns that the U.S. central bank's rate-hiking cycle could be prolonged. The benchmark S&P BSE Sensex was marginally lower at 59,738, giving up early gains.
Sensex, Nifty Fluctuate In Early Trade; Metal And IT Stocks Gain
Indian shares fluctuated in early trade on Thursday amid concerns that the U.S. central bank’s rate-hiking cycle could be prolonged.
The benchmark S&P BSE Sensex was marginally lower at 59,738, giving up early gains. The broader NSE Nifty index was up 0.1 percent at 17,568.
Titan Company shares fell about 1 percent and Asian Paints declined 1.8 percent while metal stocks such as JSW Steel, Tata Steel and Coal India were up 1-2 percent.
IT stocks were also on the rise, with HCL Technologies and Tech Mahindra rising over 1 percent each.
Tata Motors was little changed after launching its 2023 Dark edition range of SUVs.
Adani Power slumped 5 percent after it called off its plan to acquire a coal plant project in central India.
ONGC rose about 1 percent after oil prices fell by $2 per barrel to their lowest in two weeks on Wednesday.
Gujarat Gas dropped 0.6 percent after appointing Raj Kumar, IAS as Chairman of the company.
Lemon Tree gained more than 1 percent on signing a license agreement for a 47-room property in Bhopal.
HG Infra Engineering rallied 3 percent after it emerged as the lowest bidder for a RVNL project.
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