- Title: Indian shares flat as IT losses offset auto gains
- Date: 27th September 2021
- Summary: MUMBAI, MAHARASHTRA, INDIA (SEPTEMBER 27, 2021) (ANI - NO USE INDIA) VARIOUS OF BOMBAY STOCK EXCHANGE (BSE) BUILDING VARIOUS OF PEOPLE WALKING OUTSIDE BSE TICKER SHOWING STOCK MOVEMENT (SOUNDBITE) (English) STOCK MARKET EXPERT, SUNIL SHAH, SAYING: "Well, as I am talking to you, Sensex is flat, 10 points in green or 10 points in red. But more or less market is as of now flatâ€¦still above 60,000 so definitely one can say that market is in the grip of bulls, undercurrent is buoyant." BSE BUILDING
- Embargoed: 11th October 2021 09:37
- Keywords: BSE India Mumbai Nifty Sensex share market stocks
- Location: MUMBAI, MAHARASHTRA, INDIA
- City: MUMBAI, MAHARASHTRA, INDIA
- Country: India
- Topics: Asia / Pacific,Economic Events
- Reuters ID: LVA001EWHVFBJ
- Aspect Ratio: 16:9
- Story Text:Indian shares were flat in volatile trading on Monday (September 27) as IT stocks slipped from recent highs and offset gains in the auto and bank sectors.
The blue-chip NSE Nifty 50 index rose 0.09% to 17,869.1 by 0458 GMT, and the benchmark S&P BSE Sensex was up 0.14% at 60,130.4.
The Nifty volatility index rose 4.1%. Higher market volatility and occasional corrections could continue as the festive season rolls in, said AK Prabhakar, head of research at IDBI Capital.
Indian equities, however, have continued to outperform emerging market peers so far this year, helped by flush liquidity and quickening COVID-19 vaccination drives.
Auto stocks were up 1.3%, as Tata Motors rose 3% to top the Nifty 50, while peer Maruti Suzuki rose 2.6%.
IT stocks snapped four straight sessions of gains, with Wipro Ltd dropping more than 3% to lead losses on the Nifty 50 index.
Consumer goods stocks were also lower, with beer giant United Breweries falling as much as 4.3% after India's antitrust watchdog on Friday imposed a penalty on it in a case related to cartelisation of beer prices.
Asian shares crept higher as risk sentiment turned for the better, though a surge in oil prices to three-year highs could inflame inflation fears and aggravate the recent hawkish turn by some major central banks.
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