Sensex, Nifty Little Changed As IT Stocks Drag
(RTTNews) - Indian shares were little changed in early trade on Friday, as investors awaited the outcome of a slew of central bank meetings next week for additional clues on the pace of rate hikes.
The benchmark S&P BSE Sensex was up 8 points at 62,580 while the broader NSE Nifty index was up 15 points at 18,625.
IT stocks traded weak, with HCL Technologies plunging more than 5 percent after the company said it expects the revenue growth guidance for financial year 2023 to come at the lower end of its guidance.
Infosys and Tech Mahindra both fell around 1 percent.
Paytm surged 4.4 percent on share buyback news.
Sun Pharma gained 1 percent after falling more than 3 percent in the previous session.
The drug major clarified that it is not revising the revenue guidance for current financial year and also there will be no impact on specialty revenues following an import alert for its Halol facility.
Hindustan Unilever rose about 1 percent after it inked an agreement to buy 19.8 percent shareholding of Nutritionalab for Rs 70 crore.
Lupin edged up slightly after appointing Spiro Gavaris as President of its U.S. generics business.
Jyoti soared 10 percent on winning an order worth Rs. 21.25 crore Navayuga Engineering Company.
Ahluwalia Contracts advanced 1.3 percent on securing a construction order worth Rs 55.39 crore.
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