Equity indices flat in early trading, IndusInd Bank up 3.3 pc

Mumbai (Maharashtra): Equity benchmark indices were flat during early hours on Wednesday amid improved global mood but rising number of coronavirus infections in the country.

At 10:15 am, the BSE S&P Sensex was up by 52 points or 0.15 per cent at 34,009 while the Nifty 50 edged higher by 10 points or 0.1 per cent at 10,056.

Sectoral indices at the National Stock Exchange were mixed with Nifty pharma up by 2.5 per cent, FMCG by 1.2 per cent and metal by 1 per cent.

Among stocks, IndusInd Bank was up by 3.3 per cent to Rs 479.30 per share while Kotak Mahindra Bank ticked up by 1.3 per cent. Home loan lender HDFC gained by 1.2 per cent to Rs 1,793.80 per share.

The other prominent gainers were Bharti Infratel, HCL Technologies, Hindalco, Grasim and Cipla.

However, metal and auto stocks did not fare well with Tata Steel falling by 2.6 per cent, JSW Steel by 2.5 per cent and Tata Motors by 2.4 per cent. Hero MotoCorp slipped by 1.9 per cent a day after the company reported Q4 FY20 standalone profit of Rs 621 crore, down 15 per cent from Q4 FY19.

Meanwhile, Asian stock markets gained for the 10th consecutive session. MSCI’s broadest index of Asia Pacific shares outside Japan rose by 0.3 per cent and Japan’s Nikkei rose by 0.1 per cent.

Hong Kong’s Hang Seng inched up by 0.1 per cent while South Korea’s Kospi crawled up by 0.02 per cent. (ANI)