Sensex, Nifty End Lackluster Session Little Changed
(RTTNews) - Indian shares ended Tuesday's session little changed as the dollar firmed up and bond yields rose ahead of the release of crucial U.S. economic data this week that could offer more insight about the health of the world's largest economy and the Federal Reserve's policy path.
Friday's U.S. jobs report is crucial as an apparently cooling labor market might reignite recession fears and fuel speculation of a 50-basis point rate cut in mid-September.
Money markets currently expect the Fed to cut rates by 25 basis points (bps) in September, with odds of a 50-bps cut diminishing further after last week's data.
The benchmark S&P/BSE Sensex ended the session down 4.40 points at 82,555.44, snapping a ten-day winning streak.
The broader NSE Nifty index settled 1.15 points higher at 25,279.85, extending gains for the 14th straight session.
The broader market performed well, with the mid-cap and small-cap indexes on the BSE rising 0.2 percent and half a percent, respectively.
HCL Technologies, Adani Ports, Infosys, ONGC and Bajaj Finance all fell over 1 percent while Hero MotoCorp, HDFC Life, ICICI Bank, Bajaj FinServ and SBI Life climbed 1-2 percent.
Hindustan Aeronautics rallied 3.1 percent after the union cabinet committee approved procurement of 240 aero-engines for Su-30 MKI aircraft worth Rs. 26,000 crores from the company.
Other defense stocks also witnessed broader buying interest. Bharat Dynamics advanced 1.5 percent, Cochin Shipyard gained 1.7 percent, Garden Reach Shipbuilders climbed 4.5 percent and Mazagon Dock Shipbuilders surged 6.1 percent.
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Yen Falls Against Majors
Sensex, Nifty Marginally Higher In Cautious Trade As Financials Surge
Asian Markets Trade Mostly Higher
Sensex, Nifty Seen Flat To Higher At Open
Japanese Market Slightly Higher
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