India stock benchmarks open little changed as financials pause after recent rally
- The Nifty 50 eased 0.01% to 25,105.15, while the BSE Sensex added 0.06% to 81,977.69
BENGALURU: India’s equity benchmarks opened little changed on Wednesday, after gaining for four straight sessions, as financials paused following a rally driven by optimism over strong pre-earnings updates and the Reserve Bank of India’s lending reforms.
The Nifty 50 eased 0.01% to 25,105.15, while the BSE Sensex added 0.06% to 81,977.69 as of 9:16 a.m. IST.
Nine of the 16 major sectors logged gains at open.
The broader small-caps and mid-caps traded flat.
Heavyweight financials and banks fell about 0.3% each, after rising in the last six sessions.
Last week, the RBI allowed banks to fund acquisitions and raised the cap on loans for buying shares at IPOs as part of a raft of measures to boost bank lending.
This, along with positive pre-earnings updates from banks for the September quarter, boosted benchmark shares, with the Nifty and the Sensex rising about 2% each in the last four sessions.