Sensex, Nifty Fluctuate In Early Trade; Metal Stocks Gain On China Optimism
(RTTNews) - Indian shares fluctuated in early trade on Tuesday after posting strong gains in the previous session due to short covering following last week's steep losses.
The benchmark S&P/BSE Sensex slipped 103 points, or 0.2 percent, to 60,463, giving up early gains.
The broader NSE Nifty index was down 42 points, or 0.2 percent, at 17,972 after having snapped a four-day losing streak on Monday.
Mahindra & Mahindra, IndusInd Bank, Bajaj FinServ and ITC all fell around 1 percent while metal stocks such as Tata Steel, Hindalco and JSW Steel climbed 1-2 percent on China reopening optimism.
The offshore yuan held a gain from overnight and the dollar index eased on improved risk sentiment after China announced that it would drop quarantine for inbound travelers starting from Jan. 8.
Jet Airways jumped 2.3 percent on reports that at least two senior executives as well as some pilots and cabin crew have quit the airline.
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