Equity indices flat, ONGC dips by 2.6 pc
Mumbai, Maharashtra: Equity benchmark indices were volatile but largely flat during early hours on Wednesday on the back of mixed global cues. Market experts said the sentiment was also suppressed by rising Covid-19 cases and a fall in macro readings like industrial production and rising inflation.
At 10:15 am, the BSE S&P Sensex was down by 15 points or 0.03 percent at 50,349 while the Nifty 50 slipped by 9 points or 0.06 percent to 14,901. Most sectoral indices at the National Stock Exchange were in the red except for Nifty IT which rose by 1 percent. Nifty pharma dipped by 0.7 percent, metal by 0.6 percent, and PSU bank by 0.5 percent.
Among stocks, HCL Technologies was up by 1.4 percent to Rs 1,021.10 per share while Tech Mahindra rose by 1.3 percent, Tata Consultancy Services by 1 percent, and Infosys by 0.8 percent. HDFC Bank, UPL, ITC, and Mahindra & Mahindra too traded with a positive bias. However, energy stock fell with ONGC down by 2.6 percent to Rs 112.10 per share, Bharat Petroleum Corporation by 2.1 percent, and IndianOil Corporation by 1.1 percent. Meanwhile, Asian stocks were in the negative terrain as investors awaited the outcome of the US Federal Reserve's monetary policy.
Japan's Nikkei slipped by 0.23 percent, Hong Kong's Hang Seng by 0.14 percent, and South Korea's Kospi by 1.1 percent.
