Sensex, Nifty Little Changed On Weak Global Cues; MPC Meeting Eyed
(RTTNews) - Indian shares were little changed on Wednesday, tracking weak global cues and amid caution ahead of the Reserve Bank of India's monetary policy announcement later in the day.
Economists expect a 35-basis point hike in rates and a dovish view on future policy action.
The benchmark S&P BSE Sensex was up 53 points, or 0.1 percent, at 62,680 while the broader NSE Nifty index was up 9 points at 18,652.
HDFC AMC rose over 2 percent on news that its promoter abrdn Investment Management will sell its entire 10.2 percent stake in the mutual fund company.
Siemens jumped 5.6 percent after it emerged as the lowest bidder for the 9000 HP electric locomotives project in Dahod, Gujarat.
IDBI Bank added 1.6 percent after the government said it will allow foreign funds to own over 51 percent stake in the lender.
Jammu & Kashmir Bank gained 1.2 percent after announcing a partnership with Maruti Suzuki India.
Ircon International advanced 1.6 percent on securing an order worth about Rs. 122 crore for signaling and telecommunication system from Sri Lanka Railways.
Among those that fell, Tata Motors, NTPC and HCL Technologies were down around 1 percent each.
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