Indian shares turned in a mixed performance in early trading on Monday as investors looked for direction amid a lack of positive cues from global markets.
The mood remains cautious with investors reacting to some corporate news.
The benchmark BSE Sensex was down 116.70 points or 0.14% at 84,924.75 a few minutes ago, while the broader Nifty50 of the National Stock Exchange was down 25.80 points or 0.1% at 26,016.50.
Adani Ports & Special Economic Zone drifted lower by about 1.55%. Power Grid Corporation shed nearly 1%, while TCS, HCL Technologies, Baja Finserve, Reliance Industries, Axis Bank, State Bank of India and Bajaj Finance slipped by 0.4 to 0.7%
Shriram Finance, Jio Financials Services, Coal India, HDFC Life and Eicher Motors also showed weakness.
Tata Steel climbed 2.7%. Hindustan Copper soared nearly 15% to Rs 545.95, hitting a fresh record high. Shares from the materials sectors are rising thanks to firm metal prices amid hopes of more monetary easing by the Federal Reserve.
Eternatl gained about 1.2%, while Tech Mahindra and Titan moved up nearly 1% over their previous closing levels.
Hindalco, Nestle Industries, Grasim Industries, ONGC, Tata Motors Passenger Vehicles, Bajaj Auto and BEL posted moderate gains.
Punjab National Bank opened notably lower at Rs 116.35 this morning after the bank reported a fraud of over Rs 2,000 to the RBI.
The case involves the loan accounts of SREI Equipment Finance (Rs 1,241 crore) and SREI Infrastructure Finance (Rs 1,193 crore). The bank has fully provisioned for these outstanding accounts, as disclosed in its stock exchange filing. The stock recovered subsequently and was down just 0.3% a little while ago.
NBCC is up more than 2%. The state-run company said on Friday that it will receive a 21.23-acre land parcel in south Delhi as its share following the settlement of a dispute with the Delhi government, and will develop a mixed-use real estate project on this site with an estimated revenue of about Rs 8,500 crore.
Coforge rost to Rs 1,715 in early trading before paring some gains. The stock was up 0.8% at Rs 1,686 a little while ago. The company announced that it has opened a new tab to acquire artificial intelligence firm Encora at an enterprise value of $2.35 billion to boost in-house AI capabilities and expand presence in the U.S. and Latin America.
The market breadth was weak. On BSE, 2,262 stocks drifted lower, while 1,594 stocks moved up and 240 stocks remained flat.
Market Analysis
Sensex, Nifty Down Marginally; Metal Stocks In Demand
2025-12-29 05:15:24
