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Sensex, Nifty Struggle For Direction In Early Trade
(RTTNews) - Indian shares struggled for direction on Tuesday, tracking weak cues from global markets amid concerns over China's property sector and the possible impact of high oil prices on inflation and interest rates.
The benchmark S&P BSE Sensex was down 6 points at 66,017 in early trade while the broader NSE Nifty index was up 12 points at 19,686.
Larsen & Toubro rose about 1 percent after its first-ever share buyback received stupendous response, being subscribed 7.2 times.
Tata Steel rallied 2 percent after Moody's Investors Service upgraded its long-term issuer rating to Baa3.
Sheela Foam advanced 1.3 percent after completing a QIP issue.
Wipro was little changed after selling a 14-acre plot of land and building in Chennai for Rs. 266.38 crore.
Strides Pharma fell 2.4 percent after it decided to spin off its contract manufacturing business OneSource.
Fortis Healthcare gained 0.7 percent after it received board approval to acquire 100 percent stake in Artistery Properties Private Ltd for Rs. 32 crores.
RPP Infra jumped 5 percent on winning news orders worth Rs. 482.37 crores. Mangalore Chemicals declined 1.2 percent after it has shut down its ammonia and urea plants for planned maintenance.
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