Equity indices subdued but IT and metal stocks gain
Published on September 29, 2020 | News Source: ANI
Mumbai , September 29 : Equity benchmark indices were flat during early hours on Tuesday with IT and metal stocks gaining some ground.
At 10:15 am, the BSE S&P Sensex was up by 62 points or 0.16 per cent at 38,044 while the Nifty 50 gained by 24 points or 0.21 per cent at 11,251. Sectoral indices at the National Stock Exchange were mixed with Nifty IT moving up by 1.7 per cent, metal by 0.8 per cent and auto by 0.6 per cent. But Nifty PSU bank dipped by 1.7 per cent and private bank by 1.1 per cent.
Among stocks, Tata Consultancy Services advanced by 2.7 per cent to Rs 2,492.25 per share, Wipro by 1.7 per cent and Infosys by 1.2 per cent.
Metal majors Hindalco and Tata Steel gained by 2.1 per cent and 1.5 per cent. The other major gainers were Hero MotoCorp, Eicher Motors and Asian Paints.
Among the losers were IndusInd Bank, ICICI Bank, Axis Bank, State Bank of India, ONGC, Bharti Airtel, IndianOil Corporation and Power Grid Corporation.
Meanwhile, Asian markets largely opened higher after bargain hunters helped a recovery in US markets in the wake of last week's selloff.
Hong Kong's Hang Seng index was up by 0.2 per cent while Chinese shares opened higher with the blue-chip CSI 300 index up by 0.41 per cent.
MSCI's broadest index of Asia Pacific shares outside Japan advanced by 0.39 per cent but Japan's benchmark Nikkei average dropped by 0.61 per cent.