Markets

Sensex, Nifty Give Up Early Gains To End Flat

(RTTNews) - Indian shares gave up early gains to end on a flat note Wednesday as gains in IT stocks were offset by losses in index heavyweights RIL and Bharti Airtel.

The benchmark S&P BSE Sensex ended the session up 18.75 points, or 0.05 percent, at 36,051.81, while the broader NSE Nifty index edged up 10.85 points, or 0.10 percent, to 10,618.20.

Reliance Industries shares tumbled 3.9 percent after a late selloff. Addressing shareholders at the company's 43rd AGM, chairman Mukesh Ambani said the company will spin off the oil-to-chemicals (O2C) business into a separate entity and induct strategic partners.

Bharti Airtel lost 3.6 percent and Vodafone Idea slumped 6.4 percent after Jio Infocomm asked to be made a party in the case involving lucrative data plans.

Infratel, GAIL and Zee Entertainment Enterprises declined 2-3 percent.

Wipro soared nearly 17 percent after its Q1 margins and profits topped forecasts.

Infosys jumped 6.5 percent ahead of its earnings release, while TCS, Tech Mahindra and HCL Technologies climbed 3-5 percent.

Global cues were broadly supportive as investors cheered positive updates on a potential Covid-19 vaccine and pinned hopes on EU stimulus.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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