Sensex, Nifty Marginally Higher In Early Trade
(RTTNews) - Indian shares were slightly higher in early trade on Wednesday despite a global selloff after U.S. President Donald Trump said he may want to delay a trade deal with China until after the 2020 presidential election.
The benchmark S&P BSE Sensex was up 50 points, or 0.12 percent, at 40,725 while the broader NSE Nifty index edged up by 10 points to rise above the 12,000 level.
Wipro, Adani Ports, ICICI Bank, Tata Motors and Infratel climbed 1-4 percent in the Nifty pack.
Commodity-related stocks such as Tata Steel, Coal India and JSW Steel fell 1-2 percent after U.S. Commerce Secretary Wilbur Ross said that U.S. import tariffs would continue unless there was an interim trade deal.
He rejected any deadlines to get a deal done and launched a fresh attack on telecoms giant Huawei, further dimming hopes for an end to a 17-month trade war. The next round of tariffs is set to take effect on December 15.
Yes Bank dropped 1.1 percent to extend recent losses ahead of a board meeting next week to decide on capital infusion.