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Sensex, Nifty Struggle For Direction; IT Stocks Surge
(RTTNews) - Indian shares struggled for direction on Wednesday after U.S. President Donald Trump said he is not considering delaying his July 9 deadline for higher tariffs to resume.
Investors also fretted about the potential impact of Trump's spending bill, which cleared a critical hurdle and headed back to the House, where the Republicans hold a narrow majority.
The benchmark S&P/BSE Sensex was up 60 points at 83,756 in early trade while the broader NSE Nifty index was down 4 points at 25,538.
Trent, Eternal, Bajaj FinServ and Bajaj Finance all fell around 1 percent while IT stocks such as HCL Technologies, Infosys, TCS and Tech Mahindra were up 1-2 percent.
Asian Paints, which is facing CCI probe on market abuse charges, fell about 1 percent.
SBI Cards and Payment declined 2.3 percent after receiving a GST show cause notice on input tax credit.
Maruti Suzuki India was little changed after reporting a 6-percent year-on-year decline in total sales for the month of June.
Hero Moto Corp gained 1 percent as it reported 7 percent growth in total domestic sales in June.
Paras Defence and Space Technologies rallied nearly 3 percent on securing a contract worth Rs. 22 crores from French company Cerbair.
CLN Energy soared 5 percent on winning a tender worth Rs. 107.91 crores to supply lithium-ion batteries.
Sensex, Nifty Marginally Higher In Cautious Trade
Australian Market Extends Early Losses In Mid-market
Asian Markets Mostly Lower On Tariff Worries
Sensex, Nifty Likely To Open On Cautious Note
Japanese Market Modestly Higher
Australian Market Modestly Lower
Pound Falls Amid Uncertainty Over Chancellor's Future
