Sensex, Nifty Flat; IT Shares Fall, Autos, Reliance Industries Shares Gain
NDTV
Reliance Industries, Kotak Mahindra Bank, HDFC Bank and HDFC provided support to the markets.
The Indian equity benchmarks edged lower on Monday dragged down by weakness in Tata Consultancy Services as investors booked profits at record highs after it reported September quarter earnings. The Sensex fell as much as 248 points and Nifty 50 index touched an intraday low of 17,839. However, the markets recovered early losses and were trading on a flat note as gains in Reliance Industries, Kotak Mahindra Bank, HDFC Bank and HDFC provided support to the markets.
As of 9:24 am, the Sensex was down 44 points or 0.07 per cent at 60,014 and Nifty 50 index was unchanged at 17,894.
Asian shares rallied on Monday courtesy of gains in China which also helped US stock futures pare early losses, while rising Treasury yields lifted the dollar to a near-three-year peak against the Japanese yen.
