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HINDALCO - Hindalco Industries News Story

₹468.8 -11.1  -2.3%

Last Trade - 11:29am

Sector
Basic Materials
Size
Large Cap
Market Cap £10.42bn
Enterprise Value £15.00bn
Revenue £14.35bn
Position in Universe 49th / 3166

Indian shares end mostly flat as investors eye fresh triggers

Thu 13th August, 2020 11:43am
BENGALURU, Aug 13 (Reuters) - India's main indexes ended
little changed on Thursday as gains in metal and auto stocks
were offset by a drop in financial and consumer staples shares,
with investors looking for fresh triggers amid continued surge
in domestic coronavirus cases.
    The NSE Nifty 50 index  .NSEI  ended 0.07% lower at
11,300.45, while the benchmark S&P BSE Sensex  .BSESN  fell
0.15% to 38,310.49.
    "Most of the factors including earnings are factored in
large-cap stocks. At the same time market is also acknowledging
that small- and mid-caps are much cheaper and most of the
earnings have started to come," said Vinod Nair, head of
research at Geojit Financial Services.
    For the large-caps to move higher, markets need fresh
triggers, he added.
    "Going forward, main indices could be flattish and see some
profit booking and shift in money allocation to small- and
mid-cap stocks from larger ones," Nair said.
    The mid-cap index  .SPBSMIP  rose 1.6% and the small-cap
 .SPBSSIP  added nearly 0.8%.
    India reported another record daily rise in novel
coronavirus infections on Thursday, while the death toll from
COVID-19 surpassed 47,000.  urn:newsml:reuters.com:*:nFWN2FE17E
    Meanwhile, steady virus figures in the United States and a
jump in U.S. consumer prices in July helped Asian markets rise
on Thursday. MKTS/GLOB  
    In Mumbai trading, the Nifty Metal index  .NIFTYMET  rose
1.1%, while the Nifty auto index  .NIFTYAUTO  gained 1.22%.
    Consumer heavyweight ITC Ltd  ITC.NS  and telecom operator
Bharti Airtel Ltd  BRTI.NS  were the top drags in the Nifty 50
index, falling 1.4% and 2.25%, respectively.

 (Reporting by Nallur Sethuraman in Bengaluru; Editing by Maju
Samuel)
 ((Sethuraman.NR@thomsonreuters.com; (+91 8061822737); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))
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