Sensex, Nifty Struggle For Direction In Early Trade
(RTTNews) - Indian shares struggled for direction in early trade on Monday as investors weighed weak global cues against projections of strong economic growth for 2023-24.
Markets were also reacting to reports suggesting that the interim budget to be presented on 1 February is likely to increase the tax rebate under the new personal income tax regime.
The benchmark S&P BSE Sensex was down 91 points, or 0.1 percent, at 71,945 while the broader NSE Nifty index slipped 30 points, or 0.1 percent, to 21,680.
Tata Consumer Products, Divis Laboratories, Apollo Hospitals Enterprise, Hindustan Unilever and UPL fell 1-2 percent in the Nifty pack, while Tata Steel, ONGC, Hero MotoCorp, Eicher Motor and BPCL were up between 0.8 percent and 1.5 percent.
Tata Consultancy Services shed 0.6 percent while Infosys edged up slightly ahead of their Q3 earnings due on January 11.
Titan Company edged up 0.3 percent after sharing its Q3 update.
Reliance Industries gained half a percent after it announced a partnership with Canada's Brookfield to open a data center in Chennai.
Bajaj Auto added half a percent ahead of a board meeting today to consider share buyback.
JSW Steel was marginally lower after it received approval to set up 2,678-acre greenfield-integrated steel plant in Odisha.
Dr Reddy's Laboratories slipped half a percent. The company is recalling over 8,000 bottles of generic drug in the American market due to packaging error.
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