Indian shares largely flat; Yes Bank, Indiabulls Real Estate rise

Embassy Developments

24/12/2019 04:37

BENGALURU, Dec 24 (Reuters) - Indian shares were little
changed on Tuesday as investors stayed on the sidelines for a
second straight session ahead of the Christmas holiday, while
Yes Bank  YESB.NS  and Indiabulls Real Estate  INRL.NS  gained.
    Indian stock indexes hit record intraday highs on Friday,
but with just a handful of trading days remaining in 2019,
markets have since remained subdued due to a lack of significant
drivers.
    Optimism that a U.S.-China trade deal would revive exports
and boost corporate earnings helped Wall Street rise to record
closing highs on Monday, but Asian shares darted in and out of
losses on Tuesday amid a holiday lull.  MKTS/GLOB 
    The NSE Nifty 50 index  .NSEI  was up 0.03% at 12,266.60 by
0434 GMT, while the S&P BSE Sensex  .BSESN  ticked up 0.02% to
41,648.96.
    "(The Nifty is) likely to stay range bound between 12,150 to
12,350 zones while stock specific action (is) likely to continue
in near term," analysts at Motilal Oswal wrote in a report.
    On the Nifty 100 index  .NIFTY100 , Zee Entertainment
Enterprises Ltd  ZEE.NS  was the top gainer with a 2.4% rise,
while HCL Technologies Ltd  HCLT.NS  fell the most.
    Shares in Yes Bank  YESB.NS , down 26% so far this month
amid uncertainty over its plans to raise more capital, rose as
much as 3.2%.
    Indiabulls Real Estate's stock climbed 1.4%. The company
announced plans late on Sunday to sell commercial assets to
Blackstone Group  BX.N  for 8.1 billion rupees ($114 million).

($1 = 71.1950 Indian rupees)

 (Reporting by Sachin Ravikumar; Editing by Aditya Soni)
 ((saisachin.r@tr.com; +91 80 6749 7649; Twitter: @sachinr27;))