Sensex, Nifty Little Changed In Cautious Trade
(RTTNews) - Indian shares were little changed in lackluster trade on Monday, as investors awaited the Fed policy meeting this week for directional cues.
The U.S. Federal Reserve is widely expected to raise interest rates by another 75 basis points, while the odds of a 100-bps rate hike remain at 25 percent.
The benchmark S&P BSE Sensex edged up 65 points, or 0.1 percent, to 58,905 in early trade, while the broader NSE Nifty index was up 40 points, or 0.2 percent, at 17,570.
Bajaj FinServ, Adani Ports, ONGC, IndusInd Bank and Mahindra & Mahindra climbed 1-2 percent, while Cipla and UltaTech Cement both fell around 2 percent.
ACC was little changed after the Adani family completed the acquisition of the company.
HDFC Life rose half a percent. The National Company Law Tribunal has approved the merger of Exide Life Insurance with HDFC Life Insurance.
Hero MotoCorp was trading flat after announcing its foray into the electric segment.
Maruti Suzuki India fell about 1 percent. The car maker announced that it will recall 5,002 units of its light commercial vehicle Super Carry to inspect and fix a faulty co-driver seat.
Adani Power gained 1 percent after the company withdrew its proposed delisting offer.
Granules India added 1.3 percent. The company said its Rs. 250-crore share buyback offer will start on September 27 and end on October 11.
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