Sensex, Nifty Marginally Lower; Metal Stocks And Financials Rally

(RTTNews) - Indian shares were flat to slightly lower on Thursday despite positive cues from global markets, reflecting a positive reaction to congressional testimony by Federal Reserve Chair Jerome Powell.

The benchmark S&P BSE Sensex dropped 90 points, or 0.1 percent, to 73,995 in early trade while the broader NSE Nifty index was down 21 points, or 0.1 percent, at 22,452.

Mahindra & Mahindra tumbled 3.4 percent after a large block deal. JSW Steel rallied more than 3 percent after appointing Robert Simon as Chief Executive Officer of JSW, USA.

Peer Tata Steel soared 3.4 percent while Bajaj Finance and Bajaj FinServ both rose about 2 percent.

Zomato rose about 1 percent as foreign investor Morgan Stanley Asia (Singapore) Pte bought 5,68,11,443 equity shares in the company.

NLC India climbed 3.1 percent on reports the government plans to sell up to 7 percent stake in the company through the offer for sale (OFS) route.

CarTrade Tech jumped 6 percent after ICICI Prudential Asset Management Company and ICICI Prudential Mutual Fund picked 2 percent stake in the company.

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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