Sensex, Nifty Struggle For Direction In Early Trade
(RTTNews) - Indian shares struggled for direction on Wednesday despite positive cues from global markets.
After a measure of U.S. producer price inflation rose less than expected in July, investors now looked ahead to the release of U.S. CPI data later in the day for further direction.
The benchmark S&P/BSE Sensex was down 30 points at 78,925 ahead of Thursday's Independence Day holiday.
The broader NSE Nifty index was down 22 points at 24,116.
Hindalco Industries rose 1.3 percent after it predicted strong domestic demand for its core copper and aluminum products.
Mahindra and Mahindra advanced 1.5 percent ahead of the launch of its new five-door Thar called the Roxx.
Apollo Hospitals Enterprise added 1 percent as Q1 consolidated profit jumped 83 percent.
State Bank of India gained 1 percent after reports that it aims to strike a deal by end-March for the sale of its 24 percent stake in smaller rival Yes Bank.
Vedanta rose nearly 1 percent as it announced an offer for sale (OFS) to offload a 2.6 percent shareholding of Hindustan Zinc.
Hero MotoCorp tumbled more than 4 percent despite reporting a 36 percent increase in quarterly standalone net profit.
IRCTC, Nazara Technologies and FSN E-Commerce Ventures all fell around 1 percent post their Q1 results.
Piramal Enterprises plummeted 7 percent after quarterly profit slumped 64 percent year-on-year.
SpiceJet declined 2.2 percent ahead of its earnings release.
Bajaj Finance was down slightly on fund raising reports.
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