Sensex, Nifty Consolidate As Investors Look For Fresh Triggers
Indian equity benchmarks were little changed as gains in Larsen & Toubro and Tata Steel were offset by losses in Mahindra & Mahindra, Axis Bank and Maruti Suzuki.
The S&P BSE Sensex was little changed at 33,756 and the NSE Nifty was also little changed at 10,440. The mid and small cap shares outperformed their large cap counterparts as the S&P BSE MidCap Index rose 0.7 percent and the S&P BSE SmallCap Index advanced 1.1 percent.
Eleven out of 19 sector gauges compiled by BSE ended higher led by the S&P BSE Capital Goods Index's 1.4 percent gain. On the other hand, the S&P BSE Auto Index was the top sectoral loser, down 0.76 percent.
Reliance Infra Gains On Selling Mumbai Power Business To Adani Transmission
Shares of the Anil Ambani-led Reliance Infrastructure rose as much as 6.8 percent to Rs 498 and Adani Transmission advanced as much as 10 percent to Rs 225.30. Reliance Infrastructure has signed an agreement with Adani Transmission for 100 percent sale of its integrated Mumbai power business, Reliance Infrastructure said in a press release.
Total deal is valued at Rs 13,251 crore, comprising of business valued at Rs 12,101 crore and approved regulatory assets of Rs 1,150 crore, the press release added.
Gayatri Projects Gains On Order Win
Shares of the Hyderabad-based road construction company rose as much as 2.9 percent to fresh 52-week high of Rs 221 after it won order worth Rs 1,339 crore for construction of ring road and bypass around Jammu city, the company said in a stock exchange notification.