Equity indices flat, RIL dips 2 pc post AGM

Equity frontline gauges were flat during early hours on Friday with index heavyweight Reliance Industries being the top drag.

At 10:15 am, the BSE S&P Sensex was down by 30 points or 0.06 per cent at 52,669 but the Nifty 50 ticked higher by 3 points or 0.02 per cent to 15,794.

Except for Nifty FMCG which dropped by 0.5 per cent, all sectoral indices at the National Stock Exchange were in the green with Nifty metal gaining by 2.2 per cent and auto by 1 per cent.

Among stocks, metal stocks showed smart gains with Tata Steel moving up by 4 per cent to Rs 1.157.90 per share, JSW Steel by 2.2 per cent and Hindalco by by 1.8 per cent.

Tata Motors, Maruti Suzuki, ICICI Bank, Axis Bank and Larsen & Toubro too were in the green. However, Reliance Industries tumbled 2.5 per cent to Rs 2,098.60 per share, a day after its 44th annual general meeting that saw it unveil a Rs 75,000 crore clean energy plan besides growth path for telecom and retail businesses.

Meanwhile, Asian shares rose tracking gains on Wall Street overnight after US President Joe Biden embraced a bipartisan Senate infrastructure deal.

MSCI’s broadest index of Asia Pacific shares outside Japan climbed 0.58 per cent. Hong Kong’s Hang Seng added 0.61 per cent, Seoul’s Kospi was up 0.79 per cent and Japan’s Nikkei rose 0.59 per cent.

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