Sensex, Nifty Little Changed; Banks And Financials Drift Lower
(RTTNews) - Indian shares struggled for direction on Tuesday as a surge in oil prices to a two-month high revived concerns about inflation and interest rates.
The benchmark S&P/BSE Sensex was down 35 points at 79,440 in early trade while the broader NSE Nifty index was virtually unchanged at 24,141.
Banks and financials traded lower, with Kotak Mahindra Bank, SBI Life, Shriram Finance, Bajaj Finance and HDFC Life all falling around 2 percent.
Tata Motors fell 1.2 percent on reporting an 8 percent fall in domestic sales in June.
Maruti Suzuki India, TVS Motor and Bajaj Auto traded lower while Hero MotoCorp edged up slightly.
NMDC declined 1.4 percent after reducing lump ore prices.
Lupin gained 1 percent after receiving a tentative nod from the Food and Drug Administration for Olopatadine hydrochloride ophthalmic solution.
DCX Systems jumped 15 percent on securing a contract worth Rs 1,250 crore from Larsen & Toubro.
Welspun Specialty Solutions climbed 6 percent on bagging an order worth Rs 117.17 crore from NTPC.
IOL Chemicals soared 6.3 percent after receiving nod from China drug regulator to export a cholesterol drug.
CSB Bank rallied 3.2 percent after reporting strong growth in Q1 deposits and advances.
Carysil advanced 2.7 percent after launching a QIP issue.
Sakuma Exports rose 1.4 percent after its board approved 4:1 bonus issue.
South Indian Bank added half a percent as it reported 11.4 percent jump in gross advances in the June quarter.
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