Indian stock indices were little changed on Friday as gains in Reliance Industries, ICICI Bank, Tata Motors, Sun Pharma and Bharti Airtel were offset by losses in Infosys, HDFC Bank, Tata Consultancy Services, Titan and ITC. The Sensex moved in a range of 265 points and the Nifty 50 index touched an intraday high of 24,858 and a low of 24,792.
At 9:35 am, the Sensex was up 26 points at 81,079 and the Nifty 50 index was down 6 points at 24,805.
Most Asian markets were trading lower: Japan’s Nikkei was down 0.24 percent, Singapore’s Straits Times was down 0.05 percent, Hong Kong’s Hang Seng was down 0.71 percent and South Korea’s KOSPI was down 0.51 percent.
All three major U.S. stock indexes lost ground overnight Thursday, weighed down by technology stocks, as Treasury yields rose on easing recession fears and global central bank officials met at the Jackson Hole Economic Symposium.
The Dow Jones Industrial Average fell 177.71 points, or 0.43 percent, to 40,712.78. The S&P 500 lost 50.21 points, or 0.89 percent, to 5,570.64 and the Nasdaq Composite dropped 299.63 points, or 1.67 percent, to 17,619.35.
Nine of the 13 sectoral gauges compiled by the National Stock Exchange were trading higher, led by the 1 per cent rise in the Nifty Auto index. Some financial services, pharmaceutical, state-owned banks and healthcare stocks were also attracting buying interest.
On the other hand, IT, media, metals and private bank stocks faced selling pressure.
Midcap and smallcap stocks saw mild buying interest as the Nifty Midcap 100 and Nifty Smallcap 100 indices rose 0.24 per cent each.
Bajaj Auto was the top gainer on the Nifty index, up 1.94 per cent to Rs 9,914. Hero MotoCorp, Tata Motors, Apollo Hospitals, Reliance Industries, Hindalco, Sun Pharma and Maruti Suzuki were also among the gainers.
On the other hand, LTI Mindtree, Infosys, Titan, Grasim, SBI Life, Wipro, Tech Mahindra and Asian Paints were among the losers.
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