June 16, 2021

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Sensex, Nifty Struggle For Direction

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Indian shares struggled for direction in early trade on Friday, with concerns over rising inflation in the U.S. and lingering worries over the intense second of coronavirus infections in the country keeping investors nervous.

The benchmark S&P BSE Sensex was up 60 points, or 0.1 percent, at 48,750 while the broader NSE Nifty index was little changed at 14,700, giving up early gains.

IEX fell more than 3 percent. The company posted over 33 percent rise in its consolidated net profit for the March 2021 quarter.

Vedanta declined 1.7 percent despite nearly doubling its quarterly profit.

Piramal Enterprises lost 3.5 percent after posting a quarterly net loss.

Asian Paints soared 9 percent. The company reported an 81.13 percent rise in its consolidated net profit for the fourth quarter ended March.

Shriram City Union Finance edged up slightly after it bought over 4.44 crore shares of its housing finance subsidiary for Rs 200 crore.

Apollo Tyres lost 3.3 percent despite reporting nearly four-fold rise in its quarterly consolidated net profit.

Larsen & Toubro rose half a percent, Dr Reddy’s Laboratories gained 1.4 percent and Cipla rallied 2 percent ahead of their quarterly results.

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2021-05-14 00:29:01

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