Sensex, Nifty Little Changed In Cautious Trade; PSU Stocks Lead Fall
(RTTNews) - Indian shares opened on a cautious note Wednesday, mirroring weak cues from global markets as investors braced for Fed Chair Jerome Powell's congressional testimony and the ECB rate decision.
The benchmark S&P BSE Sensex edged up 40 points to 73,716 in lackluster trade while the broader NSE Nifty index was down 4 points at 22,352.
PSU stocks slipped, with NTPC, BPCL, Power Grid Corp and ONGC all falling over 1 percent.
JM Financial slumped 14 percent after the RBI barred the company from giving loans against shares and debentures, citing serious concerns on governance issues in the company, apart from violation of regulatory guidelines.
BHEL fell about 1 percent after a clarification that it hasn't received any order from NTPC.
JSW Energy dropped 1.1 percent after its step-down unit signed a battery energy storage purchase agreement with Solar Energy Corp.
Zomato tumbled 3.2 percent and Samvardhana Motherson International shed 3.3 percent on the back of large block deals.
Wipro declined 1 percent after it bought a 27 percent stake in SDVerse LLC.
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