Sensex, Nifty Lackluster In Early Trade; IT And Adani Group Stocks Gain
(RTTNews) - Indian shares struggled for direction in early trade on Thursday as investors reacted to mixed earnings updates and overnight data showing U.S. inflation slowed slightly more than expected in April.
The benchmark S&P BSE Sensex was up 48 points at 61,988 while the broader NSE Nifty index was up 7 points at 18,322.
Adani Ports advanced 1.6 percent after reports that would prepay USD 130 million of debt ahead of schedule. Adani Enterprises jumped 3.6 percent, Adani Transmission added 1.4 percent and Adani Power climbed 2.2 percent.
IT stocks were moving higher, with HCL Technologies and Asian Paints rising around 1 percent each.
Larsen &Toubro tumbled more than 4 percent after veteran industrialist AM Naik decided to step down as Non-Executive Chairman of the company.
Godrej Consumer Products rallied 2.3 percent on reporting decent earnings growth. Dr Reddy's Laboratories plunged 5.6 percent after its fourth-quarter profit lagged Street's estimates.
Vodafone Idea edged up slightly on reports that it may unveil a revival plan within a month.
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