Sensex, Nifty Struggle For Direction; IT Stocks Surge
(RTTNews) - Indian shares struggled for direction on Wednesday after U.S. President Donald Trump said he is not considering delaying his July 9 deadline for higher tariffs to resume.
Investors also fretted about the potential impact of Trump's spending bill, which cleared a critical hurdle and headed back to the House, where the Republicans hold a narrow majority.
The benchmark S&P/BSE Sensex was up 60 points at 83,756 in early trade while the broader NSE Nifty index was down 4 points at 25,538.
Trent, Eternal, Bajaj FinServ and Bajaj Finance all fell around 1 percent while IT stocks such as HCL Technologies, Infosys, TCS and Tech Mahindra were up 1-2 percent.
Asian Paints, which is facing CCI probe on market abuse charges, fell about 1 percent.
SBI Cards and Payment declined 2.3 percent after receiving a GST show cause notice on input tax credit.
Maruti Suzuki India was little changed after reporting a 6-percent year-on-year decline in total sales for the month of June.
Hero Moto Corp gained 1 percent as it reported 7 percent growth in total domestic sales in June.
Paras Defence and Space Technologies rallied nearly 3 percent on securing a contract worth Rs. 22 crores from French company Cerbair.
CLN Energy soared 5 percent on winning a tender worth Rs. 107.91 crores to supply lithium-ion batteries.
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