Sensex, Nifty Marginally Higher In Early Trade
(RTTNews) - Indian shares were marginally higher on Wednesday, with metal and auto stocks pacing the gainers.
The benchmark S&P BSE Sensex was little changed at 73,061 in early trade, while the broader NSE Nifty index was up 5 points at 22,202.
Eicher Motors, JSW Steel, Mahindra & Mahindra, Tata Steel and Hindalco jumped 1-2 percent in the Nifty pack, while Axis Bank, Infosys, Bajaj Auto and Power Grid Corp all fell around 1 percent.
Hindalco Industries rallied 2.6 percent after its subsidiary Novelis filed for an initial public offering.
Union Bank of India surged 4.3 percent after announcing a Rs. 3,000-crore QIP issue.
Raymond added about 1 percent after launching a luxury residential project in Mumbai.
Shares of Zee Entertainment Enterprises plunged 10 percent. Market regulator SEBI has unearthed a financial discrepancy exceeding $240 million or around Rs. 2,000 crores in the accounts of the company, according to a Bloomberg report.
Ashok Leyland climbed 1.2 percent on news it is setting up a new integrated commercial vehicle plant focused on green mobility in Uttar Pradesh.
Wipro edged up slightly after launching an Enterprise Artificial Intelligence (AI)-Ready Platform.
Whirlpool of India was slightly higher. Promoter Whirlpool Mauritius sold 3,03,89,239 equity shares, which is equivalent to 23.95 percent stake in the company via open market transaction.
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