Monday, January 17, 2022

Indian shares inch lower as banks, auto drag

A man walks past a screen displaying news of markets update inside the Bombay Stock Exchange (BSE) building in Mumbai, India, February 6, 2018. REUTERS/Danish Siddiqui TPX IMAGES OF THE DAY

Register now for FREE unlimited access to

BENGALURU, Dec 9 (Reuters) – Indian shares slipped on Thursday, dragged down by banking and auto stocks, a day after the central bank held rates steady to support economic growth in light of risks from inflation and the Omicron coronavirus variant.

By 0357 GMT, the blue-chip NSE Nifty 50 index (.NSEI) was down 0.11% at 17,450.55 and the benchmark S&P BSE Sensex (.BSESN) dropped 0.14% to 58,801.87 after two straight sessions of sharp gains.

The Nifty bank index (.NSEBANK) was down 0.54% and the Nifty metal index (.NIFTYMET) dropped 0.53%.

Register now for FREE unlimited access to

Among individual stocks, shares of Railtel Corporation of India Ltd (RAIT.NS) were up 3.8% after the company got a work order worth 2.12 billion rupees ($28.10 million) from Ircon International.

On the global front, stocks were up in choppy trade as worries about the economic impact of the Omicron coronavirus variant ebbed, while investors were cautious ahead of U.S. inflation data due on Friday.

($1 = 75.4500 Indian rupees)

Register now for FREE unlimited access to

Reporting by Shivani Singh in Bengaluru; Editing by Subhranshu Sahu

Our Standards: The Thomson Reuters Trust Principles.


Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.