Business Standard

Indian shares open flat as pharma boost offsets losses in tech stocks

Indian shares were largely unchanged on Monday, as gains in pharmaceutical stocks and heavyweight Reliance Industries were offset by losses in information technology stocks

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Reuters BENGALURU

BENGALURU (Reuters) - Indian shares were largely unchanged on Monday, as gains in pharmaceutical stocks and heavyweight Reliance Industries were offset by losses in information technology stocks.

By 0414 GMT, the blue-chip NSE Nifty 50 index was up 0.04% at 15,866.95 and the benchmark S&P BSE Sensex rose 0.02% to 52,936.01.

Both the indexes added more than 1% last week, when the country's vaccinations averaged six million doses per day and some pandemic-induced restrictions were eased further.

On Monday, India reported its lowest increase in COVID-19 deaths since mid-April.

In Mumbai trading, the Nifty Pharma index rose 0.77%, while conglomerate Reliance Industries gained 0.4% after four sessions of losses.

 

The Nifty IT index fell 0.43% after two straight sessions of gains.

Among global markets, broader Asian shares kicked off the week on a cautious note as a spike in coronavirus cases across the weekend hurt investor sentiment.

 

(Reporting by Anuron Kumar Mitra in Bengaluru; editing by Uttaresh.V)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Jun 28 2021 | 11:25 AM IST

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