Equity indices trade flat, Bajaj twins lose

Equity benchmark indices traded flat during early hours on Monday amid lack of any major domestic trigger and subdued Asian markets.

Last week, the Reserve Bank of India lowered growth estimate to 9.5 per cent in FY22 from earlier 10.5 per cent and kept its key interest rates unchanged while assuring ample liquidity and pledging to continue its stance as long as necessary.

At 10:15 am, the BSE S&P Sensex was up by 67 points or 0.13 per cent at 52,167 while the Nifty 50 gained by 35 points or 0.26 per cent to 15,705.

Except for Nifty financial service which dipped slightly, all other sectoral indices at the National Stock Exchange were in the positive terrain with Nifty auto moving up by 1.1 per cent, metal by 1 per cent and FMCG by 0.7 per cent.

Among stocks, Tata Motors accelerated by 2.6 per cent to Rs 343.90 per share while Tata Steel moved up by 2 per cent. The other prominent gainers were Coal India, Power Grid Corporation, NTPC, Grasim and Eicher Motors.

However, Bajaj Finance dipped by 4.4 per cent, Bajaj Finserv by 3.6 per cent, Dr Reddy’s by 0.3 per cent, Cipla by 0.2 per cent and Reliance Industries by 0.1 per cent.

Meanwhile, Asian shares turned lower as relief over the benign US jobs report was chilled by caution ahead of key inflation data later this week.

MSCI’s broadest index of Asia Pacific shares outside Japan slipped 0.3 per cent and risked a fourth session of losses. Japan’s Nikkei edged up 0.2 per cent and touched its highest in almost a month.

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