[ad_1]

(Reuters) – Indian shares were largely unchanged on Tuesday, as investors creamed off profits after six sessions of gains.

A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai, India, December 11, 2018. REUTERS/Francis Mascarenhas

Stocks had run up last week on expectations that the current coalition government led by Prime Minister Narendra Modi would return to power after the general election starting next month.

“There is still some optimism in the market. There has been a run-up in the past few sessions and profit booking is inevitable,” said Saurabh Jain, AVP Research, SMC global securities.

“This profit booking will last for a short time. Broadly, things are looking good, we are seeing some confidence return.”

The broader NSE Nifty rose 0.09 percent to11,471.65 as of 0559 GMT. The benchmark BSE Sensex was 0.11 percent higher at 38,137.92.

Both the indexes had gained 3.9 percent over the past six sessions.

Eicher Motors Ltd and Hero MotoCorp Ltd were among the biggest losers on the NSE index, falling over 2 percent each.

Oil and Natural Gas Corporation Ltd and Bharti Infratel Ltd both climbed over 3 percent and were the top gainers.

Shares of IT services company Mindtree Ltd were trading 1.7 percent lower after conglomerate Larsen & Toubro Ltd said it would buy a 20.32 percent stake in Mindtree for 32.69 billion rupees($477.1 million).

Shares of Anil Ambani-led Reliance Communications Ltd were locked in the upper circuit after his elder brother Mukesh Ambani, the country’s richest man helped pay off debt owed to Sweden’s Ericsson.

Reporting by Chandini Monnappa in Bengaluru; Editing by Shreejay Sinha

[ad_2]

Source link

قالب وردپرس