BENGALURU: Indian shares were subdued on Tuesday as lacklustre performances in heavyweight financials partially offset gains in energy stocks, while investors await key US inflation reading and the Federal Reserve’s policy decision.
The NSE Nifty 50 index held its ground at 23,287.05, while the S&P BSE Sensex was flat at 76,515.51, as of 0927 a.m. IST.
Ten of the 13 major sectors logged gains, with energy stocks gaining 0.5%, underpinned by a 3% jump in ONGC after a Jefferies upgrade on the oil refiner’s stock.
Financial services were down 0.4%, weighing on the index, while state-run banks dipped 0.2%.
India’s benchmarks ended lower on Monday, easing from record-highs hit at the open as markets took a breather after a sharp post-election results rally last week.
Indian shares slip after election results rally, IT weighs
Investors globally await key US consumer price index report for May and the conclusion of the Fed’s two-day policy meeting on Wednesday.
The Fed is considered certain to hold steady at its policy meeting, with the focus on whether it keeps three rate cuts in its “dot plot” projections for this year.
Comments
Comments are closed for this article.