Indian shares flat as IT slide offsets Fed pause optimism
Updated at 10:22 a.m. IST
By Bharath Rajeswaran
BENGALURU, June 9 (Reuters) -Indian shares were little changed on Friday, as a slide in high-weightage IT stocks offset optimism due to improved sentiment from the increased probability of a rate pause from the U.S. Federal Reserve.
The blue-chip Nifty 50 .NSEI was down 0.01% at 18,632.90 as of 10:22 a.m. IST, while the benchmark S&P BSE Sensex .BSESN fell 0.04% to 62,823.02.
Seven of the 13 major sectoral indexes advanced. Realty .NIFTYREAL added 1% after a sharp slide in the previous session while IT .NIFTYIT fell 0.7%.
Wall Street and Asian equities rose as odds of a rate pause in the Fed's upcoming meeting on June 14 increased to 75% from 66%, after data showed weekly jobless claims hit over a 1-1/2-year high, signalling a cooling economy. FEDWATCH
Investors are also awaiting key rate decisions from the European Central Bank and Bank of Japan next week. MKTS/GLOB
India's central bank kept the repo rate at 6.50% for a second straight meeting on Thursday but indicated that monetary conditions will remain tight to bring inflation down to the 4% target.
Despite the profit-bookingin interest-rate sensitive stocks after the RBI decision, analysts said the near-term outlook for the benchmark Nifty 50 remained positive.
"Expect Nifty to gradually move towards an all-time high, supported by lower volatility, stable macroeconomic fundamentals and consistent foreign buying," said Siddhartha Khemka, head - retail research at Motilal Oswal Financial Services.
Among individual stocks, One 97 Communications PAYT.NS rose as much as 4.91% to a 10-month high after global brokerage CLSA reiterated "buy".
Aether Industries AETH.NS jumped over 7% to a record high after the specialty chemicals maker signed a license agreement with Saudi Aramco Technologies Company.
On the other hand, shares of Indian Energy Exchange IIAN.NS tumbled 15%, after several analysts downgraded the stock, on market coupling concerns.
($1 = 82.4831 Indian Rupees)
Reporting by Bharath Rajeswaran in Bengaluru; Editing by Dhanya Ann Thoppil, Sohini Goswami, and Janane Venkatraman
免責聲明: XM Group提供線上交易平台的登入和執行服務，允許個人查看和/或使用網站所提供的內容，但不進行任何更改或擴展其服務和訪問權限，並受以下條款與條例約束：（i）條款與條例；（ii）風險提示；（iii）完全免責聲明。網站內部所提供的所有資訊，僅限於一般資訊用途。請注意，我們所有的線上交易平台內容並不構成，也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。