- Title: Indian shares struggle as tech negates energy gains
- Date: 28th September 2021
- Summary: MUMBAI, MAHARASHTRA, INDIA (SEPTEMBER 28, 2021) (ANI - NO USE INDIA) VARIOUS OF BOMBAY STOCK EXCHANGE (BSE) BUILDING TICKER SHOWING STOCK MOVEMENT VARIOUS OF PEOPLE WALKING OUTSIDE BSE (SOUNDBITE) (English) STOCK MARKET EXPERT, SUNIL SHAH, SAYING: "Sensex at this point of time...Sensex is down by 300 points but that is quite natural because we have crossed the historic high of 60,000 plus and these kind of correction as I have told you last time also they keep coming. And at higher level what happens is that many people start booking profit and that's the reason we will see some kind of correction but what we have seen in last one and half year, which is very important is that when the market corrects at some point of time the buyerâ€¦ buying reemerges and that comes with vengeance so, then again it goes to new high so this kind of you know, movement we will witness." VARIOUS OF PEOPLE WALKING OUTSIDE BSE
- Embargoed: 12th October 2021 08:51
- 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: LVA001EWMV80F
- Aspect Ratio: 16:9
- Story Text: Indian equities struggled for direction on Tuesday (September 28) as gains in energy stocks countered losses in tech and real estate shares, with concerns about the fate of China Evergrande also weighing on broader market sentiment.
The blue-chip NSE Nifty 50 index was down 0.09% at 17,870.3 by 0458 GMT and the benchmark S&P BSE Sensex fell 0.01% to 60,074.51.
Indian shares have gained about 4% this month, hitting record highs on ample liquidity and hopes of a vigorous economic recovery from pandemic troughs.
Trading was slightly volatile on Tuesday, with the Nifty volatility index surging 2.5% in morning trade.
Energy stocks rose more than 2% to hit a record high. Indian Oil Corp climbed over 2% and was among the biggest gainers on the Nifty 50.
Metal stocks advanced 1.4%, driven by a 4.8% jump in Coal India.
Tech stocks dropped more than 1% after Monday's 2.9% slump. HCL Technologies fell nearly 2% to be the biggest loser on the Nifty 50.
Real estate stocks snapped five straight sessions of gains to drop more than 2%, with Oberoi Realty sliding over 5% to lead losses on the sub-index.
Broader Asian markets were trading lower as risks of a default by debt-laden property giant China Evergrande took center stage again.
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