Sensex, Nifty drop early gains

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(RTTNews) – Indian stocks were trading in a narrow range on Wednesday as investors reacted to weak global signals and the release of a slew of macro data, including readings on GDP, core sector output and the budget deficit.

The benchmark S&P BSE Sensex fell 90 points, or 0.2%, to 55,475, giving up early gains. The broader NSE Nifty index fell 0.1% to 16,564.

UltraTech Cement, Tech Mahindra, Sun Pharma, Hindalco and Bajaj Auto fell 1-3% in the Nifty pack, while NTPC, Coal India, Tata Steel, Asian Paints and JSW Steel climbed 1-2%.

Shares of Vodafone Idea fell 2.4%. The telecommunications major said it was actively looking for ways to raise funds, but no proposals have been put to the board regarding funding for Amazon.

Info Edge fell 0.6% after acquiring a majority stake in 4B Networks. Bharat Dynamics jumped 6.5% after signing a contract with the Ministry of Defense to build Astra Mark-1 Beyond Visual Range Air-to-Air Missiles (BVRAAM) worth Rs 2,971 crore.

AU Small Finance Bank rose nearly 2% after setting June 10 as the record date for a 1:1 bonus issue.

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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