Equities flat during early hours as investors await elections outcome

Stock markets were fragile during early hours on Wednesday, a day before the outcome of just-concluded general elections.

At 10:15 am, the BSE S & P Sensex was up 83 points at 39,053 while the Nifty 50 gained 14 points to 11,723. Indices of financial services and banks were in the positive zone while all others were in the red.

Among the early gainers were Bharat Petroleum, ONGC, Bharti Infratel, HCL Tech and Infosys.

But Yes Bank, IndusInd Bank, Indiabulls Housing Finance, Tech Mahindra and JSW Steel showed losses ranging between 2 to 3 per cent.

Meanwhile, Asian stocks also were on shaky ground after the United States' brief relaxation of curbs against China's Huawei Technologies.

 

Investors however remained cautious over the possibility of further escalation of tensions between the world's two largest economies.

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