Sensex, Nifty Struggle For Direction In Early Trade
(RTTNews) - Indian shares struggled for direction in early trade on Friday, tracking mixed global cues and rising oil prices.
The benchmark S&P BSE Sensex was marginally 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 percent in the Nifty pack, while Larsen & Toubro, Kotak Mahindra Bank, ONGC, Adani Ports and Tech Mahindra gained 1-2 percent.
HDFC Bank and PNB were moving lower after hiking interest rates on deposits.
Mahindra & Mahindra was little changed despite reports that it is exploring the possibility of acquiring General Motors' Talegaon factory in Maharashtra.
Reliance Industries edged down slightly while ONGC added 1.6 percent after the government lowered the windfall gain tax on domestically produced petroleum crude.
At the same time, the government has hiked the windfall profit tax on the export of diesel and brought back a tax on jet fuel exports.
Max Healthcare Institute fell 2.3 percent after HDFC Asset Management Company increased its stake in the company.
Wipro rose 1.2 percent after it signed a multi-year contract to deliver service integration and management services to the U.K. government treasury.
JK Tyre Industries dropped more than 1 percent after raising prices by 6-7 percent.
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German Construction Sector Downturn Deepens
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