Sensex, Nifty End Narrowly Mixed; Financials Surge
(RTTNews) - Indian shares ended a choppy session little changed on Thursday as the dollar and Treasury yields climbed on concerns over U.S. trade tariffs on Europe, Canada, and Mexico.
Investors also monitored oil price movements and shifted focus to upcoming U.S. inflation data, which could shed more light on the outlook for interest rates.
Oil prices climbed today amid supply concerns after the U.S. decided to revoke oil giant Chevron Corporation's license to operate in Venezuela.
The benchmark 30-share BSE Sensex fluctuated in a narrow range before ending the session up 10.31 points at 74,612.43.
The broader NSE Nifty index closed at 22,545.05, down 2.50 points from its previous close.
Second-line stocks faced heavy selling pressure, with the BSE mid-cap and small-cap indexes tumbling 1 percent and 2.1 percent, respectively.
The market breadth was negative, with 3,022 shares falling while 952 shares advanced and 98 shares closed unchanged.
UltraTech Cement shares plunged 4.7 percent after the company announced its foray into the cables and wires business.
Mahindra & Mahindra, Tata Motors, Bajaj Auto and Trent fell 3-4 percent.
Shares of wires and cables companies such as Polycab India, Havells India, KEI Industries and Finolex Cables slumped 6-21 percent.
Financials advanced after the Reserve Bank of India relaxed strict loan rules for micro-credit and non-bank lenders.
Shriram Finance shares surged 5.2 percent while Bajaj Finance and Bajaj FinServ both rose over 2 percent.
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