Sensex, Nifty Recover Early Losses To End On Flat Note
(RTTNews) - Indian shares fluctuated before ending on a flat note Monday.
A cautious undertone prevailed as the U.S. and China accused each other of violating their Geneva trade agreement and U.S. President Donald Trump threatened that he would increase tariffs on steel and aluminum to 50 percent.
Higher oil prices amid heightened geopolitical tensions also kept investors on edge after Ukraine launched a major drone strike on Sunday, destroying 40 key Russian aircraft, including the Tu-95 and Tu-22 M3 long-range bombers capable of deploying conventional and nuclear weapons as well as the A-50.
Oil prices were up more than 3 percent in European trade as escalating geopolitical tensions and reports of more U.S. sanctions on Moscow offset a production hike by the OPEC+.
The benchmark 30-share BSE Sensex recovered from an early slide to end the session down 77.26 points, or 0.09 percent, at 81,373.75.
The broader NSE Nifty index closed down 34.10 points, or 0.14 percent, at 24,716.60 after a choppy session.
The broader markets performed well, with the BSE mid-cap and small-cap indexes rising 0.6 percent and 0.4 percent, respectively.
The market breadth was positive on the BSE, with 2,130 shares rising while 1,991 shares declined and 166 shares closed unchanged. Tata Motors, Tata Steel and Tech Mahindra all fell over 1 percent while Adani Ports rallied 2.5 percent, Mahindra & Mahindra surged 1.6 percent and Power Grid Corp climbed 1.1 percent.
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