Sensex, Nifty Fluctuate On Hawkish Fed Comments
(RTTNews) - Indian shares were moving in a narrow range on Monday, as the dollar and bond yields climbed on comments from a Fed official that the fight against inflation is not over and interest rates will stay high for a while.
The benchmark S&P BSE Sensex slipped 13 points to 61,782, giving up early gains. The broader NSE Nifty index was up 19 points, or 0.1 percent, at 18,370.
Dr Reddy's Laboratories fell more than 4 percent to lead losses in the Nifty pack, while Tata Motors, Power Grid Corp, Apollo Hospitals Enterprise and Hindalco jumped 2-4 percent.
NDTV jumped 2.2 percent as the Adani Group revised the date of launching an open offer to acquire an additional 26 percent stake in the media firm.
LIC surged 6 percent on reporting a multi-fold surge in its quarterly net profit.
Godrej Properties edged down slightly on news it has been declared the highest bidder for two adjacent land parcels in Noida for a total bid value of Rs. 377 crores.
Punjab & Sind Bank rose about half a percent on fund raising reports.
HDFC was little changed. The company said its life insurance arm has received approval from pension fund regulator PFRDA for the change in shareholding ahead of the merger between HDFC and subsidiary HDFC Bank.
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