Sensex, Nifty Struggle For Direction In Lackluster Trade
(RTTNews) - Indian shares struggled for direction on Wednesday as investors looked ahead to earnings of IT majors as well as key economic indicators like retail inflation and factory production for directional cues.
The benchmark S&P BSE Sensex was up 43 points at 71,429 while the broader NSE Nifty index was up 6 points at 21,550.
Delta Corp fell 2.7 percent. The online gaming firm said the GST demand worth over Rs 23,200 crore is arbitrary and contrary to provisions of law and hence it hasn't made any provisions towards the same.
Vedanta declined 2.4 percent as Moody's Investors Service downgraded rating on the senior unsecured bonds issued by the company.
Energy stocks such as ONGC and BPCL were down over 2 percent each.
KIOCL tumbled 2.8 percent after temporarily suspending operations at the Mangalore-based pellet plant unit.
Colgate-Palmolive lost 2 percent on receiving a GST notice from Himachal Pradesh, Tamil Nadu, and Delhi authorities.
SBI Life topped the gainers list to add 2.6 percent while Adani Ports, HCL Technologies, Cipla and Adani Enterprises climbed 1-2 percent.
Shyam Metalics and Energy rose 1.5 percent after completing a QIP issue.
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