Sensex, Nifty Little Changed In Early Trade; IT Stocks Underperform
(RTTNews) - Indian shares were little changed on Thursday, tracking weak cues from other Asian markets and ahead of the expiry of monthly derivative contracts.
Sentiment was dented as U.S. chipmaker Micron Technology offered soft revenue guidance after reporting third-quarter profit that missed analysts' estimates.
The benchmark S&P BSE Sensex was up 5 points at 78,679 in early trade while the broader NSE Nifty index was up 1 point at 23,867.
IT stocks traded weak, with Wipro, Tech Mahindra and HCL Technologies all falling around 1 percent.
Larsen & Toubro also fell about 1 percent as it flagged shortage of 25,000-30,000 laborers across various projects.
Reliance Industries climbed 1.3 percent to hit a record high after Jio acquired 1800 MHz spectrum in two circles in the latest auction.
India Cements soared 11 percent on news that UltraTech Cement will purchase up to 7.06 crore equity shares in the company at a price of Rs. 267 per share.
PI Industries rallied 2.2 percent after it announced an offer to acquire Plant Health Care Plc for £32.8 million.
CSB Bank jumped 4 percent after a block deal.
SBI edged down slightly after raising Rs. 10,000 crores via a bonds issue.
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