(RTTNews) – Indian shares were little changed in cautious trade on Thursday after reports suggested that completion of a “phase one” U.S.-China trade deal could slide into next year.
The benchmark BSE Sensex edged up 42 points to 40,693 in early trade, while the broader NSE Nifty index was down 2 points at 11,997.
BPCL fell 2.4 percent after the government reduced a proposal to reduce its stake in the company.
Shipping Corporation of India tumbled 4.4 percent while Container Corporation of India gained half a percent.
Telecom stocks fell on profit taking after recent gains. Bharti Airtel lost over 2 percent and Vodafone Idea slumped 9 percent.
In what seems to be a big relief for ailing telecom service providers, the Union Cabinet has approved two years’ moratorium on spectrum payment dues.
Dewan Housing Finance Corp. rallied 1.5 percent after the RBI suspended its board and appointed an administrator.
Yes Bank dropped 1 percent on news that its founder Rana Kapoor has been now left with just 900 shares of the private sector lender.
SpiceJet declined 1.4 percent after signing a memorandum of understanding with Gulf Air.
Tata Motors edged up slightly after Moody’s Investor Service assigned a B1 instrument rating to Jaguar Land Rover Automotive Plc’s new unsecured notes worth 500 million euros that are due for payment in 2024.
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