Indian shares edge up

Dhaka,  Tue,  26 September 2017
Published : 22 Aug 2017, 15:36:42 | Updated : 22 Aug 2017, 15:37:42

Indian shares edge up; trade dull on lack of triggers

Indian shares edge up; trade dull on lack of triggers

Indian shares edged up in lacklustre trade on Tuesday, but markets remained range-bound as investors kept to the sidelines in the absence of clear triggers.

Shares erased early gains even though some amount of buying was seen across sectors. The broader NSE index rose as much as 0.76 per cent in early trade, reports Reuters.

"The markets are in a consolidation phase now after disappointing Q1 results," said Siddharth Sedani, head and vice president, equity advisory at Anand Rathi.

"In the short-term, I see markets range-bound between 9,600-10,000 and change is unlikely unless there are strong geo-political triggers."

The NSE index was up 0.32 per cent at 9,785.35 as of 0609 GMT, while the benchmark BSE index was 0.24 per cent higher at 31,334.8.

Shares of Infosys Ltd extended losses to a third session, falling as much as 1.53 per cent, after Vishal Sikka resigned as chief executive officer on Friday. The stock has lost 14.4 per cent since Sikka's resignation up to Monday's close.

HCL Infosystems Ltd rose 18.1 per cent after signing an agreement with Apple India Pvt Ltd for distribution of iPhones and other Apple products in India.

Energy stocks gained with Indian Oil Corp up 3.2 per cent and Oil and Natural Gas Corp rising 1.6 per cent.

Auto stocks were among the decliners, with Hero MotoCorp Ltd falling as much as 1.7 per cent.
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