Equity indices in the green, PSU banks on low swing
Sep 02, 2020
Mumbai (Maharashtra) [India], September 2 : Equity benchmark indices traded marginally higher during early hours on Wednesday with IT stocks gaining ground but public sector bank slipping due to profit booking.
Analysts said the market mood was subdued despite defence forces from India and China holding talks to defuse the escalating border tensions.
At 10:15 am, the BSE S&P Sensex up by 16 points or 0.04 per cent at 38,917 while the Nifty 50 too gained by 16 points or 0.14 per cent at 11,486.
Sectoral indices at the National Stock Exchange were mixed with Nifty IT gaining by 1.4 per cent, metal by 1 per cent and realty by 0.7 per cent. Nifty PSU bank dipped by 0.6 per cent.
Among stocks, Bharti Infratel was up by 3.7 per cent at Rs 195.90 per share, UltraTech Cement by 2.7 per cent and Cipla by 1.2 per cent.
IT stocks moved up with Tech Mahindra and Wipro gaining by 1.5 per cent each, Infosys by 1.2 per cent and HCL Technologies by 1 per cent.
However, State Bank of India dipped by 1.8 per cent to Rs 214.10 per share. Axis Bank, Kotak Mahindra Bank and ICICI Bank along with Bajaj Auto, HDFC and Titan traded with a negative bias.
Meanwhile, Asian shares were up after buoyant US manufacturing indicators and a rally in US tech shares.
MSCI's broadest index of Asian Pacific shares outside Japan gained by 0.25 per cent while Japan's Nikkei advanced by 0.35 per cent.
